Ruyonza 2 Tukore, Ibanda Group
In one month, this focused, married father of 3 children makes 280,000 Ugandan shillings profit. With this money he has managed to cater for his children’s education and his family's general welfare. He has come to grips with some inevitable business challenges; he has however not lost heart. The determination he carries in himself means he is full of optimism that the future of his business will be bright. On that basis, he has come to terms with the fact that he needs a loan to be able to revamp his business with more stock purchases.
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