Here follows the business description of Aloys, the highlighted member of the group. He is a 56-year-old merchant living in the neighborhood of Kanyosha in the municipality of Bujumbura. He has been selling palm oil for three years. In addition, he is a plumber. He is widowed and the father of two children, aged 26 and 24. His eldest daughter is studying. Aloys himself did not attend school.
He will use his share of 200,000 Burundi francs in the group loan to increase his working capital. He will buy more palm oil for resale and make a big profit.
Aloys is a member of Vugukuri Community Group.
Son crédit de 200,000frans burundais va contribuer à augmenter son capital et agrandir la quantité d’huile de palme à revendre afin de réaliser de grands bénéfices.
Il est membre du groupe Communautaire« VUGUKURI».
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