Kabowa Mixed Farmers Group - Jinja
With this loan, Bashiri, who is a single father of six, is optimistic his dreams will come to pass. With more motorcycles, he says he will be able to add onto the 100,000 shillings he makes in a week with just one bike. He says that before this business, he was a security guard and it is because of his hard work and determination that he is where he is right now.
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