Budondo Development Group
Feibe also deals in cattle. The cattle sales business which she began recently has started picking up steam and she reckons she will earn a lot from it in the not so distant future. She mostly grows and sells beans, maize and bananas. Recently she has begun selling milk too. This business generates her profits to the tune of 150,000 shillings weekly. With this loan, Feibe says she is going to purchase more cattle to resell.
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