Kabweeza Intergrated Development B, Mubende Group
With this experience behind her, Grace has managed to subdue most of the uncertain adversities that have threatened to play havoc with her business. What has played into her hands as she operates her business has been her exceptional customer relationship skills. In a month, her business generates her a profit of 200,000 Ugandan shillings. This, to all intents and purposes, is a low figure.
As it is now, Grace is taking a long view with the aim of maximizing her small profits. She figures this loan will significantly come in handy in helping her to buy more stock.
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