Zinunula Omunaku, Mityana Group
To shoulder the financial responsibility of taking care of these children and orphans, Miseche owns a small tea-packaging business in Miseebe, Mityana. He took root ten years ago and, with this business, he has in a way managed to provide for his family's needs.
Miseche’s dream is to expand his tea-packing business into a wholesale franchise. With this loan, he wants to buy tea-packaging bags and also pay for his own trademark logos.
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