Basoka Kwavula Development Group
Bananas are a staple food in most parts of Uganda and a seller cannot go wrong with sufficient reserves. In Jackson's case, farming has helped a lot. The fact that he is able to harvest bananas from his own gardens to sell has been pivotal. Jackson also sells cattle. He says his weekly sales profits are about 180,000 Ugandan shillings. With this Kiva loan, he says he is going to purchase high-grade manure for his banana farm.
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