Bwavumpologoma Women's Group, Lugazi
Ever since then, Charles has made steady headway in firmly taking measures aimed at growing and expanding his franchise. Coming to terms with the fact that his neighborhood did not have a clinic, made him seize the opportunity to open up one. This business has been of paramount importance to him, especially in regard to the improvement in the welfare standing of his family.
In a week, Charles’ business generates him profits totaling up to 70,000 shillings. With this loan, he wants to buy a new consignments of drugs for his clinic and drugstore.
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