Kiduusu Women's Group, Lugazi
Casting her mind back in perspective to when she was still a farmer, Sarah says she has no nostalgic feelings or regrets as her financial position since then has tremendously gotten a boost. Though only still a fledgling, her bar business has given her that leverage and flexibility which she, at the threshold, did not envisage.
Sarah also ekes out profits selling bananas and vegetables that she buys from farmers. By and large, she reveals she makes monthly profits to the tune of 140,000 shillings. With this loan, she wants to inject more capital into her business with a set objective of making more profits. Principally she wants to buy more crates of beer and soda for her 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