Kugumikiriza Development Group, Jinja
With the little income from his business, Simon has managed to provide for his wife, kids and relatives. In good weather months, he says he makes profits totaling 100,000 shillings or even more. His main source of lamentation over the years has been the bad weather spells which, in effect, mean he has to make do with fewer supplies from farmers.
What has made Simon’s business grow is the fact that he has struck a chord with most of his clients and suppliers on the basis of his good business line of conduct. His future plans are to be able to easily transport his fruits and vegetables to his clients far away from his operating place.
With this loan, Simon says he is going to boost his business by paying for more deliveries of fruit and vegetable supplies from his farming business partners.
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