Kamuli Road Twekalangule - Jinja Group
The grocery business has now lasted five years. It is located along Kamuli Road which is near the Jinja metropolis. She has mostly been selling fruits and vegetables. She says her weekly profits are to the tune of 180,000 shillings. With this loan, Annet, a member of the Kamuli Road Twekalangule Group, says she is going to buy more vegetables and fruits to sell. She envisages better prospects for her business in the future. Now that the Christmas festive season is in the offing, she says she is looking forward to a roaring trade selling fruits and vegetables.
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