Mukene Women's Group
The fact that Lugazi is near Lake Victoria is an advantage in her business in that she does not have to spend much in transport costs. The fact that fish sells highly on the markets in Lugazi and the surrounding towns is also another merit. Her biggest challenge, however, is the tight competition manifest in this trade. In some seasons too, the fish stocks in the lake go scarce, meaning the fishermen will not make many a catch. This, needless to say, adversely affects her business.
Nusula says she makes sales profits totaling up to Ugandan shillings 30,000 on a weekly basis. With this Kiva loan, Nusula says she is going to purchase more fish 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