Twekembe Kikooza Group, Mukono
In Kikozza, Mukono, where Sarah operates from, she is held in high regard on the basis of her quick profit grist-to-the-mill business success. Notwithstanding the fact that she rents the premises where she operates from, she has consolidated her profits with her stringent saving modus operandi. Her business, that started off small two years ago, is now a steady and reliable source of livelihood for Sarah. In a month, she earns to the tune of 200,000 Ugandan shillings.
An upbeat and self-assured Sarah is anticipating a rejuvenating push in her business operations with the acquisition of this loan. She wants to restock her shop with a variety of general merchandise goods like clothes, metal boxes and wall clocks.
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