Benta's business is located on the outskirts of Kisumu town in an area called Chulaimbo. She hopes to use the money from the loan to increase stock for her business since she feels that there is demand for her products. She hopes that with a larger stock, her profits will increase and she will be able to meet her other needs like paying school fees for her school-going children and replacing the cow she sold to acquire start up capital to start the business. This being a rural set up, the few retail shops in her area are far away from her village and she hopes to take advantage of this to serve clients near her.
She has taken up her leadership role with her sub group with great diligence and ensures that the sub group pays on time and that the group remains united. She has no other source of income as her husband does not earn regular income to fully support the family. This is her first loan with the group.
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