Buhumuliro Bahereza Group
Monday has a business selling produce such as maize, grains, beans, millet and matooke to transporters from Kampala and Mbarara. He is able to make 40,000 UGX in weekly profits. He is happy that he can get some of his supplies from his own garden since he is also a farmer.
Monday has been in this business for 8 years, after moving from a fish selling business in Matsyoro. His dream is to be able to have multiple businesses – one for each season, since most of the businesses are seasonal.
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