Joyce N., with raised hand, is a self-motivated member of St Maria development group. She is 28 and the married mother of three children between the age of 11 and 6, who runs a retail shop selling assorted home-use products in Kyenda trading centre, Mubende. She started this business 8 years ago, realizing the market potential in the area. At the end of every month she is able to pocket profits of 140,000 Ugandan shillings. Her main drawback has been having too small a stock to match her customers' demand. She is therefore seeking a loan that will help her stock more goods and transform her enterprise into a larger one. She is very committed to the business and to good customer care, and hopes to increase her sales revenue. This will bring about a transformation in her business as she hopes to build a family house, achieve a self-sustaining life, and pay for her children’s education.
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.