Kifunjo Traders Group
Eight years ago, she started a lucrative retail shop business which has been a good turn for her life and her entire family's. She earns 85,000 Uganda shillings per week as profits from her retail shop and this has enabled her to send all her children to school.
It's important to note that this hard-working lady also participates in agricultural activities, particularly in banana growing, from which she earns 50,000 Uganda shillings monthly. This she describes as a very crucial income to her family and business.
This lady, who describes herself as having a high sense of public relations, plans to increase and double her sales in the future, and with her portion of this Kiva loan, she plans to buy more stock like posho, sugar, soap and beans for resale.
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