Kigoyera Marketing Cooperative B - Kyenjojo Group
He is able to make 80,000 Ugandan shillings as weekly income from this business he started two years ago. Before, he had a livestock business from which he accumulated capital in addition to the loan to begin his produce-selling business. His dream is to educate all his children to university as well as to purchase a truck to help in his business. He needs a loan to be able to increase stock in his store.
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