Kihihi Development Association, Kihihi Group
With his monthly earnings amounting to 240,000 UGX, he has faced long odds in providing for all his family’s needs and principally catering for his children’s welfare. Abdu wants to raise his family's living standards with this loan by improving his business. By restocking and expanding his shop, he plans to make it a wholesale business, allowing him to earn more sales revenue and pay his children's education bills.
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