Kirera Twebeisho Group, Bushenyi
Godfrey’s business has grown to the extent that he has been able to educate all his three children. In a month, he reveals he makes close to 200,000 Ugandan shillings. He also sells matooke (plantain) as a source of side income and makes some additional income through his retail shop.
Godfrey’s drawback is having only a small amount of stock in his businesses. Therefore, he would like to use this loan to restock his retail shop and also buy more animals.
Godfrey’s future plans are to expand his business and improve his sales revenue.
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