Kihumulo Twimukye Womens, Mubende Group
His current setback is the lack of additional capital for purchasing salon materials such as hair cutting machines, shampoo, hair oils and a hairdrier which is basically demanded by female customers and for further investing in his farming projects for better yields. Therefore this loan will help Lauben in restocking his business requirements which will see him earn more sales revenue as he looks at building a permanent family house and educating his children.
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