Bwamukama Group, Lugazi
At length, and to all appearances, Sophia has achieved some tides of success as her business as a fishmonger now brings her profits adding up to 100,000 shillings a month. Her business with her modest earnings is, in her own estimation, now standing in good stead.
Sophia principally sells dried and smoked fish. Season in, season out, she has made headway in a business flagged off its feet by her husband. Prior to bearing a hand in this business, she was a farmer. Her only child, as one of the testaments of her success, is now going to school.
With this loan coming her way, Sophia foresees her flood tide of success continuing as she says she will be able to buy more quality fish to sell. She also wants to increase the supplies of fresh fish to her stall.
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