Afaayo Development Group, Mukono
Despite the societal scorn this type of job carries, Elisha has glossed over the stereotypes and gotten himself a niche. In his fast growing operating area, his elbow-grease work is getting a flood-tide of approval and exposure from his increasing clientele.
In the run-up to the dawn of last year, Elisha’s profit-making prospects improved as a result of the enormous appreciation for his work. In a month, he says he makes 400,000 shillings. With this loan, a determined Elisa says he wants to buy new laundry cleaning equipment and also a mowing machine.
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