B. Godfrey is the leader of this lending group in Rukungiri. He is 37 years old and married with 3 children, all in primary school and he also takes care of other dependents. Godfrey is a boda boda (bicycle taxi) cyclist in Rukungiri, operating from the Bus Park stage for over 5 years. Most of his customers include district officials, local residents and school children. With this clientele, he is able to earn approximately 250,000 UGX as monthly profits, which help with his children’s school fees and general upkeep. Godfrey also has a banana plantation and he is able to sell his produce to merchants. He also has a retail shop that is mostly managed by his wife. He says that it has not been an easy road as he was a security guard before venturing into business. He is such a hardworking and dedicated man and he now owns three motorcycles with the help of loans. He needs a loan to help with upgrading his banana plantation and restocking his retail shop.
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.