Nyiikira Okole Women's Group-Kampala
Betty previously operated a shop. She says her clients are mostly working class individuals. Her husband, she says, has always been at her beck and call. What is on the horizon for Betty is the opening up of another Pub in the near future. Over $67 is what she makes in a week. With this loan, Betty says she is going to be financially empowered to smoothly shoulder most of her responsibilities like paying her kids' school dues. Betty is the mother of three and is affiliated with the Nyiikira Okole group-Kampala.
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