Katojo Abamwe, Ibanda Group
With her monthly earnings amounting to 150,000 Ugandan shillings, she has faced long odds in providing for all her family’s needs and principally catering for her children’s welfare as her husband seems to be negligent. Norah wants to improve on the status quo of her family with the acquisition of this loan, as she wants to give this business an improved lease on life in terms of expansion, through restocking her shop with a vision of making it a wholesale business, and thus earning more sales revenue.
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