K. Nathan, 45 years old, of Abarihamwe Women's group is very optimistic about expanding his current kitchen wares sales business. The hardworking and cordial married father of six children has been operating his business for the last 14 years from Muko Ward, Ntungamo. He regularly earns 300,000 UGX monthly with sales from items such as glasses, plates, cups, food flasks, saucepans and other utensils. Because of his need to make his business grow, he is seeking a loan that will help him establish substantial growth through purchasing more stock in order to be able to supply his clients more efficiently. He will be able then to make more sales revenue which will enable him to pay his family bills, including his children's education fees.
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.