Suma is a forty five year old married woman with eight children. She owns a house in Kasese, Uganda. She looks after the family with the help of her husband who is a fisherman. Their dream is to educate thier children. For three years she has been trading in fish. She started her business with 200,000 shillings and now she has 3,000,000 shillings as her working capital. Her hardship is debtors who delay payment. Her vision to buy a refregerting van plus educating her children. Suma needs the loan to buy fish for sale.
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.