Jinja Central B-Jinja Group
In a week, this diligent lady makes about $67, and in a month she gets approximately $266. This is notwithstanding the operational cost challenges of running a business. Her shoe selling business profits have permitted her to shoulder most of her family’s financial requirements.
All of her four buoyant children are happily in school. She has also been eking side profits from another lucrative business - raising poultry. With this loan, she wants to purchase more pairs of shoes that she will later resell to her increasing clientele. She envisages a situation where she will be able to see her balance sheet triple what she is making now.
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