Marble M., 28 years old, has been in the retail business for 6 years, operating out of the Kanoni Trading Center-Kihihi. The happily married mother of 6 sells a variety of general merchandise items which are in high favor with many people around the area. Marble also farms, harvesting some of the crops she grows such as beans and cassava, which she sells to supplement her profits. She says that hard work is what has kept her business afloat in an increasingly competitive business genre. Her business generates 160,000 UGX weekly. Marble plans to use this loan to purchase more general merchandise items to resell.
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.