Rwamunyari Kwetungura Group
Charles says that his customers are mostly restaurant owners and the general public, and he is able to make 20,000 UGX in weekly profits. Charles says that his business is seasonal and this is why sometimes he switches and includes other produce like the sale of Irish potatoes in his business.
He needs a loan to be able to buy fertilizers for his plantation. As a result of taking loans, Charles has been able to save and as a result bought a big chunk of land for agriculture. Before this business, Charles was involved in the sale of maize. He is a determined man who goes by his decisions.
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