Gift Women's Group, Kayunga
Today, this happily married mother of five is driving a roaring trade in her business, courtesy of her good-humored and easily-approachable nature. In her retail business, she has satisfactory rates of profit margin. At present, she makes weekly profits totaling up to 150,000 shillings.
With this loan, Harriet is looking at restocking her retail outlet with an array of purchased goods such as basins, cups, sugar, and shoe polish.
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