United Youth, Bushenyi Group
His customers make him a profit of 60,000 Ugandan shillings on a monthly basis. He is currently faced with the big challenge of having small stock in the business. His motive to get this loan is to lend a hand in the purchasing of more stock for his business to improve sales revenue. This will enable him to get income to buy family assets and live a self-sustaining life.
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