Kibalinga Kyosimba Onanya B Group, Mubende
Thomas’s farm is in Kibalinga, Mubende. He was a subsistence farmer who later came to terms with the fact that he could improve his and his family's circumstances if he could gravitate towards commercial farming. In a month, he now makes profits that add up to 250,000 shillings.
On the acquisition of this loan, Thomas is planning on purchasing more profitable crops like coffee, millet and maize that he will later resell.
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