Sumbwe Tukole Bukozi-Mpigi Group
Prossy says she started bearing a hand in this business undertaking because of the sway of her sisters. Previously she dedicated most of her time to a brick laying business venture, which she says is now more of a second fiddle, eke out business. Monthly this business generates 120,000 shillings for her.
With this loan Prossy says she is going to buy more first-rate clothes that she will re-sell over time.
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