Kisakye Women's Group-Mukono
She set forth on this business with pep talk ideas from a close friend. Robinah was, prior to this, involved in a fishing business that in retrospect she says gave her some of the financial backup to start up this business. In a week, Robinah says she can make up to $31.
The experienced stock in trade, she says she has banked on to achieve longevity in this business, has been her exceptional customer care skills and her high spirited entrepreneurial efficacy. Robinah says her major challenge in the course of doing her business has been the lack of sufficient capital to buy more new clothes to resell in her boutique. This, she says, has in many respects affected the growth of her business. She reckons with this loan she will be able to buy more new clothes to resell and as a result make more profit.
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