Lubugumu Twekembe-Mukono Group
The aforementioned combined with diligence, proper planning and her good-natured personal qualities have been her stars and stripes. Florence, who is single but with 5 kids, says weekly this business generates her 300,000 shillings. Florence carries the conviction that with this loan, her financial prospects will continue to get better. With this loan, she says she is going to expand her business.
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