B. Girino, 50, is strong-willed and never one who loses sight of his goals and values. He has been overseeing the running of his business selling spare parts along Katate Road in Kihihi for 25 years. At his business premises, his workers carry out machine repairs and they also sell spare parts for him. His side coffee-selling business was instrumental in terms of building a financial base strong enough for him to venture into his current business. He has not dispensed of the coffee-selling business, notwithstanding the fact that he now gives more priority to his garage business. Aside from the two businesses, he operates two additional business: the selling of cows and bananas. His business generates 580,000 shillings monthly. Girino belongs to the Kanungu Kwetungura group of Kihihi and with this loan, he says he wants to buy more spare parts for resell.
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.