Kitookye Trading Center Society-Kihihi Group
Clients of his business vary from hotel owners, housewives, to retailers. Justus says he still runs his farming business given the fact that it is too a dependable means of livelihood in Uganda. Justus says he has managed to give all of his children an education using profits from both these businesses. The produce-selling enterprise generates 50,000 shillings each week for him. With this loan he says he is going to buy more cash crops like millet, maize and rice to resell. He is affiliated with the Kitookye Trading Center Society Group.
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