Banard, 36, sells maize and beans to earn his living. This business, which he began two years ago, has, in a way, significantly enabled him support to his family of three kids and his wife. Banard lives and operates his business from Kihihi. He sells his foods in food markets in the district. It goes without saying that his business has not lasted so long but Banard says it's been worthwhile, especially in terms of bringing in some income for him. He says hard work is a principal factor he firmly believes in. Weekly, he says he makes profits totaling to 80,000 shillings. With this loan, he says he is going to purchase more bags of beans and maize to resell. Banard is the one with the raised hand.
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.