Nsindika Njake Womens Group-Kayunga
This flourishing period, however, is mostly during the months of July and August when he is able to harvest on a large scale from his gardens. The recurring months are for drying and selling. This means that the seasons that lie at the threshold of every year and at the end of it are normally stagnant ones as he has less to sell, even if he has reserves. He also has to constantly bear in mind the provision of proper welfare to his family. This means he has to use some of his maize reserves as food for his family. He credits his dad for inspiring him and he has, ever since then, worked hard to emulate him. This has manifested itself in the 120,000 shillings, he makes in a week. His business longevity now stretches to a period of 12 years and, under the auspices of this loan, he wants to purchase in bulk more bags of maize to resell. The upshot, he says, is that he will be able to consolidate on his financial base with the increased sales.
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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