Umuco I Group
The Kiva loan of 200,000 Burundi francs that he is getting allows him to increase his capital to purchase large quantities of coffee and avocados to retail for great profits.
He belongs to the community group "Umuco".
Le crédit Kiva de 200,000 francs burundais qu’il obtient lui permet d’augmenter son capital pour acheter de grandes quantités de café et des avocats à revendre afin de réaliser de grands bénéfices.
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