Akutwala Ekiro Nakawuka-Mpigi Group
She has been selling bananas and other food produce for the last 25 years in Nakawuka-Mpigi. It is a profitable business given that many people buy food on a daily basis. What has played into her favor is the fact that she has a farm of her own where she harvests these foods.
She joined forces with her husband who was already into this business. In a month, she reckons she makes profits that add up to about $310. With this loan she hopes to buy more fertilizers for her farm and she also hopes to pay her laborers.
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