Kings Of Kings Group -Lugazi
Haurat also has a side business selling fast food, which she says brings her extra profit. Haurat is happily married with 4 children. Her plans for the future include constructing a house for the family. She has placed a deposit on a plot of land, and she plans to use this loan to pay the remaining balance to purchase the land.
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