Karubanda Twimukye Group, Kihihi
Lauben has a carpentry workshop in Karubanda that has been in existence for over 20 years. He also does joinery in his workshop and he makes doors, windows, chairs and so on. As a result, he has a good customer base. He acquired the skill after working for someone else as well as being a farmer.
He is hard working and very cooperative and his dream is to be able to expand his business as well as educate all his remaining children.
He says that as a result of taking loans, his business has somehow grown and he needs a loan to be able to purchase timber for his business.
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