Tukolerewamu Nanziga Group, Mpigi
For three years, Alex has been giving a good account of himself running his dispensary in Nanziga, Mpigi. This happy-go-lucky married father of two has reached a satisfactory rate of progress in his business. With monthly proceeds of 70,000 shillings he has managed to give his two children a quality education.
Alex is planning on expanding his dispensary on the acquisition of this loan. He plans to buy more dispensary equipment and also to equip his clinic with enough drugs.
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