Kyosimba Onaanya Nambaale Group-Mityana
Florence, who is happily married with five children, says she began this business after she dropped out of school. Dropping out of school meant she had to do something to make ends meet since she had children. This business has enabled her give her children an education, albeit with some difficulty, as she has many other demanding tasks to shoulder such as the payment of rent and other business operation costs.
Monthly, this business generates 780000 shillings. With this loan, she says she is going to purchase more general merchandise to resell. She belongs to Kyosimba Onaanya Nambaale group-Mityana.
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