Kishegyere Kwetungura Group, Kihihi
He is an agriculturalist involved in tea farming. He has been selling tea leaves to Kayonza Tea Factory in Kishegyere for over 20 years. Previously, Francis was involved in the sale of coffee and goats, and the tea growing and selling is an additional business.
He makes 550,000 KES as profits monthly and he hopes that will grow over time.
His plan is to have more acres of tea and have his children educated.
He says that ever since he started taking loans, his sales have increased. At the moment, he needs a loan to be able to buy manure and pay for labor for his tea farms.
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