Nyabitanda Tukore Group, Kihihi
This commercial tea growing business sees Jackson earning 60,000 Ugandan shillings on a weekly basis and this has had a great impact on his standard of living. His main disadvantage has been the low fertility of his gardens. He calculates that with his hard work nature, he would be making more money if it was not for the lack of fertilizers.
Therefore, with this loan, Jackson is looking at buying fertilizers and manure and further expanding his tea plantation through buying more seedlings and doing it on a large scale. This will improve his yields and his sales and enable him to take care of his family’s needs.
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