Nyakabungo Traders Group, Ntungamo
Moses is in the business of selling produce, like beans and coffee, from the Murambi Trading Centre. He sells mostly to locals and his hard work has enabled him to succeed. He is able to generate 260,000 Ugandan shillings weekly after a long period of 10 years in business. A friend introduced him to the business, in addition to selling goats, and his dream is to be able to educate his children as well as buying farmland. He needs a loan to be able to buy more produce and goats for business expansion.
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