Namataba Development Group-Mukono
M. Muhammed, who started the quarry three years ago, is a good humored and easily approachable lad who has one child. He belongs to the Namataba Development group. He traces his business roots to selling maize or corn, which he says was of paramount importance in getting him on his feet. He makes 80,000 shillings a week. Muhammed also ekes further profits from selling fresh food.
Paying the employees of his quarry has been an experience that has often dampened and played havoc with the smooth operations of his business. This loan will help him pay his employees.
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