Busheregyenyi Bakyara Kwebeishaho, Bushenyi Group
Many in his home area occupy themselves with self-destructive activities like drinking alcohol and smoking marijuana rather than working hard and shouldering their family responsibilities. With his hard work ethic, M. Bennon has managed to prosper and in a month he apparently makes 200,000 Ugandan shillings. With his monthly savings, he has managed to diversify his small business where he is involved in coffee, beans and bananas sales.
This has however not come the easy way as he has had to grapple with many adversities such as unpredictable weather patterns which may mean he has fewer supplies from farmers. He is looking forward to purchasing more beans and coffee to stock for resale. With this loan he hopes to be in a position to cater for his children’s education costs as he looks forward to improving his household income.
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