Babonere Kuiffe Women's Development Group-Jinja
Iren is the married mother of four school-going children. She plans to buy more textile material for making clothes and to buy clothes to resell once she accesses this Kiva loan. She started off by hiring sewing machines.
Prior to beginning this business, she was mostly selling tomatoes and sweet bananas. Her business notwithstanding its many challenges generates close to 100,000 UGX a week. She lays this down to virtues like hard work, good customer care and friendliness. She says this loan will help her to expand her business. In her opinion, she will be in a position to buy more clothes and in reselling she will be establishing an advantage for her growing business, i.e. 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