Bumu Development Group
Rose’s track record in the groundnut (peanut) sales business that she oversees, spans a period of over four years. With persistence and hard work, her business has seen the light of day up to now, notwithstanding the financial adversity that has plagued it. With this loan, she is hoping to improve on her only dependable source of livelihood.
Rose says she is going to buy more containers for her groundnut paste, processors, and more groundnut paste. This she says will be some kind of rebranding and reinvention for her business. She is hoping this will translate into more sales for her product.
Rose traces the advent of her business journey back to a pig husbandry enterprise that she still runs, though it now plays second fiddle to the aforementioned. In a week, her profits total up to 40,000 shillings.
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