Kirehe Kwetungura Group A, Kihihi
He has been a tailor for over 20 years; mostly he has been selling school uniforms. Sensing that there was a ready market for clothes, William made a decision to start this business with capital from his farming business.
On a monthly basis, this tailoring business brings in 200,000 Ugandan shillings as profits. He says business expansion is next on his list objectives. He is also a farmer and sells produce to his local community. With this loan he says he is going to buy more clothes-making material.
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