Kagongi Bakyara Twimukye, Ntungamo Group
Due to Mable’s good management and esteemed customer care, her business has maintained customers for a long time, thus creating the hotel a good market. With this loan, she wants to put in place a pool table, as it is a favorite game for many, and also make repairs to broken beds in the lodge. This will enable her to earn more profit and be able to cater for her four fatherless children’s requirements.
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