Hard working A. Joan, age 32, is a married mother of four kids between 14 and 6 years old. She has been operating a retail shop selling general products for home use from Nyakabirizi trading centre in Bushenyi. She started this business seven years ago upon realizing the ready market in the area and at the end of every week she is able to pocket profits to the tune of 40,000 Ugandan shillings.
Her main challenge has been not having enough stock in her business to match the purchasing rate of the customers. She is therefore seeking a loan that she says will help her stock more general merchandise retail goods to satisfy the customers’ high demand and transform her enterprise into a big enterprise.
Being very committed to the business with good customer care, she 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 take care of her children’s education expenses. She belongs to the Knowledge Resource Center Group-Bushenyi.
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.