Rwamunyari Kwetungura Grp-Ibanda Group
With hard work, this married and happy-go-lucky father of two children has kept his business growing. In a week, he makes 30,000 Ugandan shillings out of selling mostly bananas. His business plan of action for the future is to be able to sell more bananas out of his farm to an increasingly expanding market.
With this loan, Charles plans to purchase manure and fertilizer for his plantation.
Charles is the man standing on the right in the front row raising his hand. The rest of the ladies with their hands raised belong to the group committee.
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