Being amiable, evergreen and down to earth has helped 39 year old K. Glades a great deal. For over a decade now she has been plying a roaring restaurant business in Bugembe-Jinja. The underlying fact that her business has been doing well is something she does not put a veil on. Of cardinal importance in establishing a firm foothold on the market for her business has been the embrace of good customer care skills. This has in many respects been a winner. She began with a pancake sale business before she nurtured the whole idea of setting up this business. To manifest that she and her family can live within the means and ways of this business, all of her five children are attending good schools. In the course of time, Glades has reached a satisfactory profit maximizing point in her business. In a week, she makes profits totaling to 120,000 shillings and she is anticipating even better prospects with the acquisition of this loan. The purchase of substantial amounts of food and furniture for her restaurant is what is in the offing for her.
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.