Kyegwisa Bakyara Twimukye, Ibanda Group
Consequently, she has made enormous progress in educating her four children, which is a concern in the family. Her first priority after acquiring this loan is to purchase more hardware inventory with the sole objective of turning her business into a big supply store for motorcycle and bicycle spare parts. This will help her earn more sales revenue to take care of her family's needs.
Ovia belongs to a group of members who hold each other accountable and insure one another in paying back their loans.
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