Kagaramira Central Twimukye Group
The hard working father of three says whilst he was able to make significant ends meet with his modest earnings, he was having shortfalls in the provision of overall welfare to his family and close relatives. Weekly he says this business generates him 60,000 Ugandan shillings (UGX) as profit. He says with this loan he is going to purchase more land to expand his pineapple farm.
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