Kijubwe Women's Group, Ntungamo
Joy is able to make 70,000 UGX from her sales of fish as well as 50,000 UGX from banana sales in weekly income. Before her current business, she sold a local brew, waragi, but she does not regret the move now. She is requesting a loan to purchase more fish for resale leading to increased prosperity and growth.
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