Farming is a reliable but often neglected means of extricating improvised people out of poverty. It can be used in many ways to get oneself out of narrow circumstances. This reality in today’s Uganda, where everybody is looking for a white collar job, has not sunk in fully. It goes without saying that Farming, has from time in memorial, been the backbone of most business in Uganda. Many families subsisted on it to start other businesses, educate their children and to make ends meet. One individual who did not gloss over this reality is one high spirited 38 year married mother of 4, who goes by the name of A. Harriet. With enough savings from her farming business, she began a retail shop 10 years ago in Buikwe-Lugazi. For a person who describes herself as a hard worker, it is no surprise that her business has made progress through the course of the last 10 years. In a month, she has been making profits that have consistently totaled up to 600,000 shillings. Like any other business person who aims at making more profits, she is taking a long view with plans of transforming into a wholesale business. She is optimistic that with this loan coming her way and with an additional source of income coming through her rental business, she will be able to make ends meet. With it, she is planning on purchasing more retail stock like sugar, basins, cups, rice, beans, soap, etc that she will be able to resell to earn more profits.
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.