Butiti Tweimukye, Kyenjojo Group
Before his current businesses, Clovis was a hawker in Kampala, moving with his goods from place to place. In a month, Clovis says he makes more than 320,000 Ugandan shillings, a figure he admits will not substantively make his business grow in the near future. He is therefore seeking a loan to lend countenance to his business so that he is able to do restocking for his shop.
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