Kabweeza Intergrated Development A, Mubende Group
Despite fluctuations in his business fortunes, Emmanuel's resilience has enabled him to make enormous headway, reflected by the fact that he earns 150,000 Ugandan shillings monthly. A man who likes taking a long view, he has drawn up a plan to expand his second-hand clothing business into a big franchise. With this loan, Emmanuel is optimistic he will be empowered financially to realize his dream as he anticipates fully educating all of his children and building a permanent house for his family.
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