Nezzikokolima Development Group-Mukono
Not that 35-year-old S. Grace is a past master with a lot of experience in her businesses. Far from it. The happily married mother of two is only three years down the road in her business in Kirinya-Mukono.
Notwithstanding all the early financial glow in which she has been basking, this sturdy and always reflective woman has had many experiences that have kept her grounded. She knows that one cannot avoid challenges in the course of operating a business.
Poultry diseases, most especially, have played havoc with her chickens. When diseases strike, they normally kill many of her brood. Poultry is a highly lucrative business in Uganda nowadays, and when losses happen they impact negatively on her finances as she has fewer chickens to sell. Luckily she has the support of her side business, which is retail.
In a week, her business brings her about $27. With this loan she wants to expand her poultry business by buying more chickens that she will eventually resell.
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