Bwera Twekundire Group, Ibanda
Nicholas runs a crafts shop business in Rwamunyari, Ibanda district. He has been plying his business for the last seven years and it is with these profits that he has managed to shoulder his family responsibilities.
Nicholas’s major drawback over the years has been clients who take most of his items on credit. In a way this has retarded his progress. However, his strong reserves of hard work have helped him overcome this and, as it is now, he is making a modest 60,000 shillings a month.
The future of Nicholas’s business will improve, he says, if he can get this loan. He plans on buying more indigenous and foreign art crafts for his shop.
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