Gogonyo Women And Orphan Association-Kampala Group
Mainly, Sarah sells edibles such as roast bananas, chicken and local prepared dishes. With the help of this loan, she intends to boost her business in the way she knows best – by buying more foods such as maize flour, rice, cassava and beans. Her optimism is sky high that she will be able to make more money when she buys a greater variety of food to prepare for her old, new and prospective customers.
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