Nyabihoko Tutungukye Group
Levi has operated a retail shop in the Bugiri Trading Centre in the Nyabihoko Cell for 5 years. He sells general merchandise and is able to make 70,000/= (Kenyan shillings) in profit each week. Levi needs a loan to buy commodities to sell in his shop. Before starting his retail shop, he was selling tea leaves. He used the profits from his tea business as startup capital for this general store. His dream is to expand further to get to a wholesale level.
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