Group members sell different products and each has a market stall where they operate their daily businesses. Beatha owns a retail shop and sells a variety of items such as cooking oil, sugar, and cosmetics. She has had this business for four years.
She has requested a loan to buy more cooking oil and cosmetics to sell. With the profit from the business she will buy more items for sale. In the future she would like to import more items and distribute them to other business people in her area and beyond. In the photo, Beatha is seen in the middle of the group with a raised hand.
The extra person in this photo does not belong to this group but is married to a man who is a member of this group. In an effort to support her husband, she decided to join him in the photo. She (the non-member) is sitting in the front row on the right hand side, wearing a black jacket.
About Urwego Opportunity Bank of Rwanda (UOB)Urwego Opportunity Bank (UOB) is a Rwandan bank specializing in microfinance. It offers credit products to individuals and groups interested in starting or expanding their businesses. It also offers training in business development, financial literacy and health management. Given that approximately 90% of the Rwandan population is directly or indirectly related to the agricultural sector, Kiva lenders’ funds will be used to support UOB’s agricultural loan products, which are vital to the clients living in remote areas.
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