Myanzi Tukolerewamu Women's Development Group
From the threshold, he was hard pressed in the fast-track pace of his enterprise. Nothing, especially from a business point of view, can grow by leaps and bounds unless it’s under the auspices of some pillar of support. Kaloli faced considerable odds in obtaining a firm footing for his business.
What was of overriding importance, notwithstanding the odds, was the fact that his business had indeed taken root.
Kaloli explored all avenues to find success. He met with checkered success; it has been a long drawn out road for Kaloli. What has made his business secure is the fact that he has been able to restock his boutique when he runs short of clothes. On the side, Kaloli also ekes out side income from his farming business. He says his clothes sales enterprise generates him weekly sales revenues totaling Uganda shillings 100,000.
He has banked on invaluable winning calling cards, by being assiduous and determined.
Kaloli says he intends to utilize this Kiva loan to purchase more bales of clothing to resell.
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