Forty-two-year-old Dominic is happily married with four kids. They are a happy-go-lucky family and love to get together for reunions, especially on the weekends. To support his family, Dominic relies on income from his pub business in Ntungamo. At his pub, he sells a variety of both hard and soft beverages. This means he needs to restock to be able to meet the demands of patrons who frequent his pub. At times, though, he is so inundated by the demand of his clients that he runs short on supplies. That means he has to dig deep into his profit reserves to restock. He reckons this loan will come in really handy. Formerly, Dominic had a hand in an agro sales business. This hardworking man says his business generates 200,000 Ugandan shillings (UGX) weekly. He says with this loan he is going to purchase more crates of both hard and soft drinks to resell at his pub.
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.