He has subsisted on a produce sales business for more than 30 years. K. Ibrahim is a fledgling agro sales business trend setter whose example is bound to stand out as a benchmark for other people in his home area of Rulembo, Mubende. Many in his home area preoccupy themselves in self destructive activities like drinking alcohol and smoking marijuana, rather than working hard and taking on their family responsibilities. With his hard work ethic, he has managed to take firm business root. In a month, he apparently makes 130,000 Ugandan shillings. With his monthly savings, he has managed to diversify his small business. This has however not come the easy way as he has had to grapple with many adversities such as the unpredictable weather patterns, which for the most part mean he has fewer supplies from farmers. His dream is to build his own agro produce stalls and storage to keep his surplus goods. With the profits he hopes to be in position to cater to his children’s education costs as he looks forward to own a big family house.
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.