Wofunira Women's Group 2, Kampala
Though she is only three years down the road, this married mother of three children has made lots of headway in terms of consolidating her gains. In a week, she makes profits to the tune of 200,000 shillings. This has lent her enormous countenance in her drive to elevate the welfare of her family. All her three children are happily in good schools around Kampala.
Ruth’s startup business story can be traced to her erstwhile shop business. This gave her that sense of self-esteem that she could not fail in any business endeavor. With this loan, she is hoping she will be able to purchase new dryers. At length, she wants to expand her salon so that she is in a position to take on bridal services, too.
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