Hapuyo Kamukamu Group, Mubende
This kind of business is highly profitable given the high consumption rates of alcohol in parts of western Uganda. In a week, Richard makes profits totalling 100,000 shillings. He is upbeat that his profits will increase once he can access this loan. With the self-belief he personifies, his future in this competitive business is bright.
Richard also ekes out profits from a tailoring business. With this loan, he wants to buy more crates of beer and other alcoholic drinks for his business.
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