Namirembe Bakyara Tweheyo Group, Ntungamo
Through selling charcoal, Emmanuel is able to earn 323,000 Ugandan shillings monthly although having drawbacks such as not being able to transport his products to bigger markets. With this loan, he hopes to expand and supply his charcoal to larger charcoal markets. This will help to improve his sales revenue to cater for his family’s needs.
Emmanuel belongs to the Namirembe Bakyara Tweheyo Group, Ntungamo.
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