Nakazadde Womens Group-Lugazi
Three years ago, she began her own shoe selling business in Lugazi market out of savings from her snack business. A close friend gave her a pep talk encouraging her to try her hand at this business. She also had her husband's support. She has, since then, relied on this business to provide for her family, especially her 2 children. She has reached a satisfactory rate of progress in her business transactions and is now planning on expanding and opening new horizons for her business. The first thing she wants to do is to construct her own permanent structure for her business. With 200,000 UGX as her monthly profit, prospects look good. She also wants to open an account where she will save her money for future investment. With this loan, Aisha wants to buy more shoes that she says she will resell to her increasing clientele.
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