Mairo Mbili Drivers Association Group 1-Jinja
This 48-year-old single mother of four makes about $13 a week. She supplements these profits with earnings from her charcoal-selling business. Customers at her beauty salon are mostly community members. With this loan, she wants to buy more hair chemicals and hair pieces for her salon and also more bags of charcoal for reselling.
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