Bakristo Kweterana Group, Ibanda
For this married mother of eight, business success depends on hard work and she truly has lived up to it. In a week, she reckons she makes profits that amount to 90,000 shillings.
Sarah’s dream is to open up another branch in another part of western Uganda. This, she figures, will help her make more profits. She also wants to give her children the best education.
With proceeds from this loan, Sarah wants to take rejuvenation measures aimed at improving her hotel and she also wants to start on her plans to setup another branch. She wants to buy more furniture and cutlery for her hotel.
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