Babhensile has been in business for 2 years selling drinks, airtime and snacks at her home. She requested this loan through WDB and Kiva to buy more of these items to sell in her general store. Babhensile says that the extra income from this loan will help her take her children to institutions of higher learning and to have a better living standard for her family. She faces a challenge of not having money when she needs to buy her stock. In the future, Babhensile would like to see her business grow, to have employees and to make her business a supermarket. She added that the group received a lot of help from WDB and Kiva and hopes they will succeed in their businesses as they are new to WDB.
About Women’s Development Businesses (WDB)This loan is administered by Women’s Development Businesses (WDB), Kiva’s first and only partner in South Africa. Over 75% of South Africa’s population lives in rural areas and about a quarter of South Africans live on less than $1.25 per day.
WDB offers microcredit and training to rural women in order to improve their families’ living standards and encourage active participation in their communities. In addition to targeting women with household incomes of less than 50% of the South African poverty standard, WDB also provides enterprise development and mentorship for women ready to enhance their business skills.
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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