Abekundire Women's, Ibanda Group
In a month, her business generates a profit of 480,000 Ugandan shillings. This to all intents and purposes is a low figure. What has played into her hands as she operates her business has been her exceptional customer relationship skills. Now she is taking a long view with an aim of maximizing her small profits. She figures this loan will come in significantly handy in helping her buy more stock and get into full control over her business. Currently she sells small household items.
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