Katwekamwe, Rukungiri Group
This loan will be an incentive for Getrude to purchase farm tools like hoes and fertilizer and to modernize her plantation to improve on the banana crop which is commonly used for making a local dish by customers. This will increase Getrude’s sales revenue and enable her to pay her daily bills including her children’s school bills.
Getrude belongs to a group of nine members who hold each other accountable and insure one another in paying back the loan.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid