Twezimbe Kayabwe Development Group-Mpigi
Dan has been running his barbershop for the last five years in Kayabwe-Mpigi. He also does some farming. Dan says he opened his barbershop immediately after he finished school. He says hard work and determination have gotten him this far. His business generates 100,000 UGX weekly.
With this loan, Dan says he is going to buy a generator.
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