Kasongodde Women's, Mubende Group
It is difficult to begin from scratch and build a strong businesses. John's need to support his six children has made him settle for his current business. Because he had very little capital from his previous farming business to start up his retail shop business, he is seeking a loan. He wants to expand his business into a bigger enterprise and to purchase enough stock so that he has sufficient supplies for his customers. He earns about 50,000 a week from his shop
John wants to build a family house when he gets more profits.
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