Nswanjere Farmers United Group
Faridah is a trained nurse and before she ventured into the pharmacy business, she was operating a retail shop and a restaurant. Faridah also does some small-scale farming. Weekly, she says her gross business profits are about 80,000 shillings. She says with this loan, she is going to purchase more medicine 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.
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Success!! The loan was 100% repaid