Kinyugunyu Turibamwe, Ibanda Group
Scovia’s business story began way back in 2007. She started a tailoring business in Kyinyugunyu trading centre, Ibanda district, and this earns her a profit of seventy thousand shillings on a monthly basis.
This loan is to help Scovia purchase more stock of good-quality materials that are eye-catching to bring customers into her business. With that she will be able to realize more sales and profits that will trigger her development economically, and enable her to meet the day-to-day life and general welfare of her family.
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