Bakusekamajja Development Group, Mukono
46-year-old N. Prossy was undeterred, however. She wanted to obtain a footing in this business regardless of ingrained societal beliefs. Approaching her late 30’s, she knew she had to set her wits to work to bring food to her family’s table. Her seven children had no support since their dad was deceased.
With enough courage and conviction, Prossy started off her business eighteen years ago. Her persistence and “never quit” attitude have ultimately been her invaluable stocks in trade. She makes approximately 200,000 shillings a month and, with this loan, she is aiming to revamp her fish-sales business.
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