Kafuro Fish Farmers, Bushenyi Group
N. Ahamed has built a strong attribute of determination, with solid hardworking skills; he has developed his 30 year old enterprise into a dependable niche. Since the beginning, he has been earning monthly profits to the tune of 350,000 UGX. With this loan, he hopes to purchase fertilizers to help improve his agricultural farm and also to buy more seedlings for next season. This will improve his yields, hence his sales revenue and he will be able to live a more satisfying life and educate his children as his main goal.
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