Wofunira Women's Group 1, Kampala
Sarah’s journey into this business was like a leap in the dark by virtue of the fact that she did not have any prior business experience. She had to go through the tough mill of running a business with no requisite experience. Her high sense of self esteem was the trump card she played in getting herself acquainted with operating a business. Her resilience has paid off given her business longevity.
Sarah makes profits to the tune of 200,000 shillings a month. With this loan, she says she wants to buy more electrical items like bulbs, switches and PVC-covered wire for resale.
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