Nyamabare_ Tweyimukye Group, Bushenyi
Richard is a teacher by profession offering teaching services to Katerera town council schools. He is also involved in agriculture and sells the produce. One of his future plans is to start up a poultry business.
He is able to generate 310,000 KES monthly and he needs a loan to be able to pay school fees for his children this term. He is a very hard-working man and hopes for the best for his children.
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