Kagorogoro Ii Tukwatanise, Bushenyi Group
To all appearances, Topoista’s future business prospects look rosy with close to 120,000 Ugandan shillings coming in monthly from her business. She envisions an even greater profit as she gets this loan, anticipating being in position to buy more merchandise for the business. This will enable her to expand her business and also be able to earn more revenue and live a self-sustaining life.
Topoista says that her previous business was selling tomatoes and it's from this business that she saved to start her new 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