Katusenvule Development Group, Lugazi
50-year-old K. Ronah banked on the above to take root in her retail shop in Buloba, Lugazi. She has been a stickler for hard work for the last eight years since her business has been operational. Because of this she has made lots of strides in effectively providing for her family’s welfare on the steady profits she has been making. In a week, she says she makes profits that amount to 30,000 shillings.
Ronah started off her business with savings from her farming business which is now on a small scale. With this loan, she says she wants to buy more general merchandise retail items like soap and sugar for her store.
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