Nyabubare Intergrated Farmers Group
In Nyabubare, Bushenyi, this 52-year-old married father of eight is referred to as the early riser with the lark. He is a stickler for hard work and as such his children are all basking in the glow of his enterprising nature as he has been able to pay up their school dues. This business brings him monthly profits of 120,000 Ugandan shillings, and he is looking at business expansion in the future. With this loan he will purchase more stock to help meet the increasing demand from his customers and thereby earn more revenue.
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