Mukisa Womens Group
One person who rose to the occasion after sensing a great business opportunity is 40-year-old Teddy, a happy-go-lucky and humorous divorced woman who unfortunately, does not have any kids yet.
At her pub, her clients can stand a treat of great delicacies on top of the hard and soft beverages that she has on offer. She offers all sorts of non-alcoholic and alcoholic beverages. On the side, Teddy has a farming business that she plies.
This business generates for Teddy 100,000 Ugandan shillings on a weekly basis as gross profits. The purpose of this Kiva loan, Teddy says, is to help her purchase more crates of alcoholic and non-alcoholic beverages 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