Rose, 50, says anybody who believes can notch up something worthwhile in whatever they do. Rose believed she could be a business owner and she had the markings to have success at her grasp. This was 20 years ago. To get her food sales business on its feet, Rose had to play many trump cards. That belief in her own worth was, needless to say, already playing in her favor, but she needed to back it up with hard work, determination and building relationships with many people including potential money lenders. Once the stage was set, she took root and has never looked back. She sells foods such as bananas, cassava, maize, beans, rice, etc. in food markets in Lugazi. Rose also does farming as a side source of income. Weekly, her food sales business is worth 100,000 net profits. With this loan, she says she is going to purchase more foods such as maize, cassava, cabbage, rice, beans 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.