Women In Active-Lugazi Group
M. Prossy began this business with savings from her teaching job. Hard work is also a factor that she attributes to her success. As she makes progress on the 120,000 UGX she makes in a week, she is also taking a long view. She says she wants to eventually open new business horizons for herself in the near future by opening up a grocery store. She is getting remuneration as a teacher since she is still in active service. With this loan, she is looking at buying more firewood to sell to her increasing clientele 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.
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Success!! The loan was 100% repaid