Faida Self Help Group
Rose started off with a capital base of Ksh 5000/= and has gradually ploughed back profits into her business over the years to allow her to reach to where she currently is. Her main challenge is lack of capital to cater to the increasing children seeking admission. This deficit is mainly in the learning facilities and feeding programme for the children. She thus intends to use the loan capital for this purpose while also using the profits from the business to help in meeting her family's needs.
Rose is the Chairman of the group she belongs to and she hopes to use her leadership skills acquired while managing the school to similarly ensure that the group remains cohesive to enable her to benefit from other loans in future. She has so far exhibited these leadership skills in marshalling the group together during the training sessions. Her business is in area called Muhoroni, almost 80 kilometres away from Kisumu town. This is the first loan she is taking with the Faida self help group but the training records from the loan officer indicate good attendance and participation by the group during group training sessions.
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