Petee’s involved with the sale of slippers. She buys in bulk and sells retail and she has been in this business for one year. She started her business with two dozen slippers and now has eight dozens. She is challenged by police action. She takes her goods all over Monrovia to sell.
She says many customers are attracted to her business because she sells durable and good slippers. She hopes is to get involved in another business to generate some capital to augment her present business. She plans to use her 4,000 Liberian dollar portion of this 20,000 Liberian dollar group loan to buy more dozens of slippers.
In the photo that accompanies this profile, Petee is holding the sign.
The Local Enterprise Assistance Program (LEAP) is Liberia 's largest and oldest continuously operating microfinance institution with 13 branches across the country. Founded in 1994, the non-profit organization has survived periods of civil war and severe socio-economic hardship. LEAP seeks to help rebuild post-conflict Liberia through its group and individual loans to micro- and small-scale entrepreneurs, and puts emphasis on lending to women.
Join the Team LEAP - Liberia lending team on Kiva today: http://www.kiva.org/community/viewTeam?team_id=10019
Note on LEAP:During routine partner monitoring, Kiva learned that LEAP's delinquency data may be understated due to technical problems with their reporting software. Because this report is key to our analysis of the risk of this partner, delinquency or default rates on loans to this partner may be higher than we expect. For further details, see LEAP’s partner page on Kiva.
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