Kigando Abeteraine Group
He has been operating a retail shop as well as repairing bicycles for four years and this has helped him in providing basics to his family. His major hardship is inadequate capital to meet the increasing demand and his dream is to have an established workshop and a depot. Francis needs the loan to buy bicycle spare parts, crates of beer and sodas to sell.
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