On the side, Dezi is also involved in goat sales. Both these businesses are highly profitable and he says he is anticipating better prospects in the aftermath of getting this Kiva loan. Monthly he says this business generates sales revenue of Ugandan shillings 150,000.
Dezi says with this Kiva loan he is going to purchase more bags of coffee, beans and maize to resell. He also intends to use the rest of the money to pay fees for his kids.
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