Kalagi Basooka Kwavula Group
The fact that James is a risk tolerant entrepreneur has also been one of his strongest stocks in trade. He, however, says he has lots of leeway to make up to reach a fully satisfactory rate of growth in his business. Needless to say, the farming business has come in handy as he is able to harvest crops and use them at his restaurant. He grows and harvests staple foods like bananas, cassava, beans, rice, beans, etc. This helps cut down on the costs of purchasing food, especially with the current status quo where food prices are soaring every day. For James' group, this will be the fourth loan. The records show a good repayment pedigree. Weekly, James says, his gross sales income totals up to Ugandan shillings 50,000. James is requesting fhis Kiva loan to purchase better furniture and cutlery to use at his restaurant.
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