It is now a decade since 45 year old, enterprising, N. Gitta started her general merchandise retail shop in Nyenga-Lugazi. With a modest savings from her farming and charcoal sells business, she embarked on this business. For this married mother of 6, determination and hard work have been the stock in trade attributes that she has banked on to give her business an edge. She has used profits from her business to not only give an improved lease on life to her family’s welfare, but she has also used it as a ways and means of consolidating her business. In a week,her business generates her 250,000 shillings. She also still maintains her farming and charcoal making business. She envisions owning a wholesale business in the future. Gitta says the first step to making this dream come to fruition is through acquiring this loan. With this loan she plans to use to purchase in bulk more retail items like bars of soap, sugar, posho and salt for her shop. She says that she will make a strong head way towards achieving her goals.
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.