Akutwala Ekiro Bulenga Group, Mpigi
After saving some cash from her erstwhile produce business, Josephine decided to venture into a much tougher and more engaging business challenge. Real estate was her preference and, with enough reserves of courage and conviction, she started this new business. Since then she has never looked back.
In a month, Josephine makes profits in the range of 1,000,000 shillings. This is all down to her resilience, hard work ethic and experience that she has built up over these years. This loan, she reveals, will come in handy significantly in helping her finish up her new housing projects.
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