Tweyambe Women's, Ibanda Group
Matia’s main drawback is that he has a limited variety of products in his shop that cannot satisfy his customers’ demand. Therefore, he is looking forward to increasing the stock in his business when he gets this loan and also to expanding into a wholesale shop in future. This will help him earn more revenue and sustain his daily-living needs.
Matia belongs to a group of members who insure each other in paying back the loan. They are on their 17th loan. Matia is standing in the back row raising his hand as group leader. The ones squatting with hands raised are also executive members of the group but were not interviewed.
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