Muvo Women's Group-Lugazi
Alice sells all types of retail general merchandise that is very popular with the majority of persons around her operating area. Close friends say Alice is dedicated, hardworking and has always been unwavering in her determination to succeed.
Alice's optimism about the future success of her business is sky high. She says that beginning to sell wholesale is a prospect she is highly taking into consideration. Weekly, this business generates 120,000 shillings of revenue.
With this loan, Alice, a happily married mother of two children, plans to buy more general merchandise retail stock to resell.
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