Kancerere Tutungukye Group
Owen has a retail shop as his business in Omukengoma Trading Centre from which he sells shop commodities and he is able to make 100,000 shillings as weekly income. Owen says that he is helped by his wife since he is also involved in the sale of coffee and agriculture, businesses he began before the shop.
Owen is very hard-working and his dream is to be able to expand his business and well as ensuring that his family develops in future. He has benefited from buying more land and he hopes to buy still more as he continues taking loans. He needs a loan to buy more sugar, salt, cooking oil, bread and so on 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