Kuteesa Womens Group-Lugazi
45-year-old K. Efulansi decided to go against this grain and made her farming business a subsidiary business 30 years ago. Her deduction was that she would be able to make more profit selling charcoal. She however still maintained her farming business though it now played second fiddle to charcoal sales. With hard work and determination, this married mother of 4 school-going children has achieved her goal.
In Luleeka, Lugazi where she operates, she has carved out a reliable niche for her business. This explains why her business is still going strong notwithstanding the competition she faces. In a month, she makes profits to the tune of 100,000 shillings. With this loan, she wants to buy more bags of charcoal for resale.
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