Biyinzika Productive Group - Mpigi
She has been engaged in this business for the past 4 years and before that, she was working as a bookshop attendant. She says the availability of customers is the underlying reason for her business' growth and why she began it. In a week, she says her profits are to the tune of 30,000 shillings. With this loan, she says she is going to buy more food, beverages, and furniture for her restaurant 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