Atakola Womens Group, Jinja
Betty sells second-hand clothes as a mobile seller by moving to different markets in and around Jinja. Her customers are mostly community members and she is able to make 50,000 UGX in weekly profit. Betty works alone in her business hence knows how to manage her resources. She has been in this business for 20 years. To start the business, she got capital from a restaurant. She attributes her success to determination. Her plan is to be able to expand her business and have a second business where someone will assist her to sell clothes in a stationed market stall.
Betty has been able to buy goats from her accumulated profits and hopes to expand this kind of farming. Betty needs a loan to be able to buy more clothes for resale.
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