Pap Ndege Shg Group
Once she became the proud owner of an embroidery machine in 2003, Dorine moved her business to Riat Market. In 2006, she used some of her savings from her embroidery business to start a new shoes business alongside her embroidery business. By 2007, she had accumulated enough money to start a new clothing business alongside her embroidery and new shoes businesses.
Although she is only 25, Dorine would like to start training other young women to embroider. In order to do this, she needs to buy another machine. A nice machine costs $230 dollars. She has over $70 in the bank. When she gets her loan, she plans to combine her savings and her loan and buy a new embroidery machine. She’ll take students in the morning and evening. With the profits from her business and the monthly fee her students will pay her, she’ll be able to pay back her loan.
Her additional profits will be used to send her two young children to private schools. As a single mother, Dorine’s business success is the only way her children will be able to attend school. This new sewing machine will ensure that she is able to continue paying their school fees.
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