Kanyinya Bee Keepers Group B
The father of seven says that starting this business was his means to an end in his narrow circumstances. His business did not get off to a flying start, but through diligence and resolve, he made strides gradually. He has managed to give a good account of himself these last 13 years, notwithstanding the inevitable adversity that comes with running any kind of successful business. His gross monthly income totals up to 350,000 Ugandan shillings.
Before he set forth in this business, he was mostly involved in agriculture.
Philman anticipates making further in-roads in his business once he receives his portion of this Kiva loan. He intends to use the loan funds to purchase more drugs to stock in his pharmacy.
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