Tweyombekye Women's Ntungamo Group
Given the nature of her business where competition is cutthroat, this has come in really handy for the 56-year-old B. Kellen, a mother of eight, who divulges she has been able to make commendable strides in the improvement of her family’s welfare. Ever since she began her business where she prints, types, binds and photocopies the client’s information alongside selling reams of paper, pens, files, clip boards and other things.
On a weekly basis, she says she makes 300,000 Ugandan shillings as profit. With this amount of money she has managed to educate all of her eight children. Her future plans are to elevate her financial status through the expansion of her business. With this loan she says she wants to buy a computer and also expand her operating area.
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