Kyaterekera Development Group Of Mpigi
Where Lazia is in her business now is such an incredible testament to her endurance and hard work. She is now envisaging opening future new horizons for herself by expanding into the hotel (a larger restaurant) business. She foresees a bright future for herself and her seven children if this comes to pass
In a week, Lazia says she makes more than 50,000 shillings, enough to cater for her family’s welfare. With this loan, she is upbeat with conviction that she will purchase and store enough foodstuffs for her restaurant. She is also optimistic that in the near course of time she will expand into the more lucrative hotel business.
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