Wakiso Women's Group, Lugazi
Cotrida has been downright hardworking ever since she began her business. Her high spirited children are now all in school as a result of her devotion to her work. In a month she makes profits amounting to 150,000 shillings.
Cotrida’s dream is to broaden her business to become a wholesale operation. With this loan she wants to buy retail merchandise, to wit: flasks, flashlights, exercise books and sugar.
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