Tutungukye Group, Ibanda
Moses is no exception herein in terms of doing business. What he is looking forward to now is the prospect of enhancing his business by buying fertilizer and improving the production of beans and maize which he grows most. He has other income generating activities like a bar and a butcher shop. With this loan, he will improve his production and can afford business expansion. His revenue will increase and also he can make himself more able to meet his day-to-day life and family necessities.
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