Rwakitami Bakyara Women's, Ntungamo Group
Margret works hard to meet her family responsibilities which include paying the school fees for her children and other necessities with help from her husband. To enlarge the scale of her business, she is requesting a loan to buy a larger stock of goods. This will enable her to increase her sales and live a more sustaining life as she looks to further business expansion and building a store.
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