A decade is the time period that 38 year old Zulaika has been involved in a general merchandise retail business. The mother of 6 plies her business in the Jinja district. She was previously involved in farming and grocery store businesses, respectively. Many low denominator people find commodities sold by these small retail enterprises much cheaper than those sold by the supermarket stores which are mushrooming up in almost every town. This, therefore, means the small retail businesses can be lucrative. However of recent, the status quo has given rise to a rising middle class. These middle class people are increasingly partial to goods sold in the supermarkets, despite the price difference. This has, however, not dampened the spirits of most retail business people, including Zulaika. Her 10 year old experience in this business is clear testimony to her hard work and determination. She, however, has never rested on her laurels. She strives day in, day out to make new plans for her business, including expansion plans. She says she still has a lot of leeway to make up to see all her plans come to fruition.
Most of these retail businesses also operate on loans and the credit crunch in many respects adversely affected them. Zulaika, took this all in her stride.
On the side, she ekes out a supplementary income from a poultry sales business. On a weekly basis, she makes gross profits in the amount of Ugandan shillings 120,000. She says with this requested Kiva loan, she intends to purchase more retail commodities like sugar, salt, basins, toothpaste, beans, maize flour, rice, 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.