Kagaramira Abamwe, Ibanda Group
At the age of 34 years, Sam has, by contemporary Ugandan standards, earned the credentials of being called successful. With his five-year-old business he has, to a great degree, improved on his family’s welfare standing. His four children are all attending school and his wife is also involved in his business. He asserts that he makes 220,000 shillings every month.
With the loan, Sam plans to purchase more produce for his supermarket.
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