Naluvule Rural Women's Association-Kampala Group
With no prior business experience, this happily married mother of 10 knew the aforementioned attributes would come in handy, especially in helping her obtain a footing. In a week, she makes shillings 50,000 and with this loan she wants to purchase more bags of charcoal for resale.
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