Coffee farming and sales have been 39-year-old Ronald's business for two years now in Kayunga. Ronald is a goal-oriented, dedicated and happily married father of three who resides in Kayunga. Previously, this go-getter was involved in mostly odd jobs in and around Kayunga. Time came when he had to find a reliable means of livelihood. It was about then that he purchased a piece of land, which had some coffee plants on it. The next course of action he took was to purchase more young coffee plants to plant on his farm. Most of the young coffee plants he planted on his farm are maturing as of now and the ones he got on the farm he bought are still sturdy. He is able to harvest coffee that he sells. He says per coffee season, this business can generate him as much as Ugandan shillings 460,000 in sales revenue. This is the second time Ronald's group is getting a loan from this MFI. He intends to use this Kiva loan to purchase more young coffee plants to plant.
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.