Rwengwe Tukore Group
His farming gardens are mostly full of growing tea. Hard work and determination have been the towers of strength for this happily married father of six. He says weekly his tea sales business profits are to the tune of 100,000 UGX. He says with this loan, he is going to purchase fertilizers for his tea gardens.
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