Masese Group, Jinja
John started his business six years ago after trying his hand unsuccessfully as a fishmonger. He started off as an apprentice carpenter at a neighborhood workshop and it is from there that he nurtured his skills and, as well, started doing carpentry on his own.
John’s determined attitude pushed him to start his own workshop and he has never looked back. Currently he earns monthly profits to the tune of 150,000 shillings, and his customers are mostly students and hotel business people. He mostly sells beds, sideboards, chairs and doors.
With this loan, John says his business will expand as he will be able to buy more timber to make chairs and sideboards.
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