Bufunda United Women's, Ibanda Group
He is so fond of his enterprise; thus, he is always able to earn 300,000 Ugandan shillings monthly. This loan is to help him do the mulching and buy stake poles and pesticides for his plantation. Expansion of the project to a larger scale is his main motive for this loan. This will help to improve on Sam's yields and production and lead to an increase in sales revenue which will enable him enjoy a self-sustainable livelihood. Sam has on a black jacket in the photo.
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