Jinja Central B Group
Florence has been making gradual inroads and she is very upbeat about the future prospects of her enterprise. Weekly she says her sales revenue totals up to shillings 200,000 Ugandan shillings. Florence is asking for this Kiva loan to expand her business. She says she is going to purchase more pairs of shoes and also pay for a market stall where she can sell her shoes.
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