Mukwano Development Group-Jinja
She has two children who are certain to bask in the glow of her continual success. She has, however, been hard pressed at buying new things like creams for her salon. It is for that reason that Suzan says this loan will come in handy in helping her buy more cosmetics, weavers, driers and other basic requisite equipment for her salon. She is positive that with more creams in her salon and with more equipment she will attract more clients. This, she says, will help her make much more profit than she is making 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