Nyakabare Bakyara Tutungukye Group A, Ntungamo
Though her business has had its share of ups and downs, Loyce has emerged as a strong and determined woman who has refused to give in to any sort of pressure, knowing she has to protect her main source of income. With this kind of spirit, she has made progress as seen in the 300,000 Ugandan shillings she makes monthly.
Loyce is one lady who likes looking at the future and, as such, she has come up with plans she says are for the expansion of her small secondhand clothes business into wholesale. With this loan, she is hopeful she will be able to see her dream come true.
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