Rock Of Ages-Jinja Group
John began this business with savings from his previous fishing business. He, like many other retail business people, also operates a commercial motorcycle business commonly known as "boda boda". With this loan, he wants to buy in bulk and restock his retail shop with highly desirable domestic items such as soap, plastics, sugar and salt.
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