Gombe Tukolerewamu Women's Group, Mpigi
Florence began this business with the modest savings she had in the bank. Her lack of experience in running a business, did not impact her much at the threshold of her business. She had the courage of her conviction that she would succeed, even without any prior pedigree in business.
Florence describes herself as an optimist who will do anything to achieve success in whatever she bears a hand in. She also wants her kids to emulate her example and join her in business as this type of business is currently the most reliable source of income for most Ugandans, especially those who have just finished their studies.
In a week, Florence says she makes profits that are to the tune of 100,000 shillings. With this loan, she wants to specifically purchase four bags of sugar, five jerry cans of cooking oil, ten boxes of soap, one bag of rice, etc.
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