Namasuba Women's Development Initiative Group
At her shop, she sells a variety of electronic goods such as kettles, DVD players, iron boxes, bulbs, etc. She says this business generates her sales revenue totaling 50,000 Ugandan shillings weekly. She says she is to utilize this Kiva loan money to purchase more electronic goods such as electric kettles, bulbs, iron boxes, etc., 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