Mukono Women's Crafts Enterprise Group
Before she embarked on this business, she was teaching in many primary schools in and around the Mukono Town area. Faith still teaches and she also has a crafts-sales business that she also runs.
Hard work, she says, has been her recourse in trying times. Faith, who is affiliated with the Mukono Women's Crafts Enterprise group, says this business generates her 200,000 shillings monthly as profit. With this loan, Faith says she is going to pay for the expansion of her grocery 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