Omunaku Kaghama Jinja Womens Group
She decided then that she had to start a tailoring business where she mostly sold the clothes she had sewn in Buwenda-Jinja. Being a widow, she knew she had her responsibility cut out for her. With six children to take care of, she knew only hard work would be her saving grace. And her saving grace it truly has been, as she is seeing the dividends. In a week, profits from her business average up to $27. She also has a poultry business. With this loan, she wants to buy an electric sewing machine that will make her work much faster and more improved.
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