Thirty-three-year-old Jude J. is a happily married father of three kids who are all in schools in Mpigi Town. For the past four years he has been operating a clothes-sales business, which he says he began with inspiration from one of his closest friends. Prior to that, Jude was working at a local cosmetics manufacturing factory.
Hard work and determination are what have been and are likely to be Jude's winning calling cards even in reference to the future. He says this business generates him 400,000 shillings as monthly profit, and he says with this loan, he is going to purchase more clothes that he is going to resell.
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.