Rwenshama Boda Boda Association A Group
Swaibu, 46 years old, is a risk tolerant, proactive and enterprising businessman who has operated a fish sales business in Rukungiri for 10 years. Although this district is not known for this activity, business people like Swaibu have taken root. Swaibu purchases most of the fish he sells in bulk. Demand for his fish has been growing recently; to cope with the rising demand, he buys fish from as far away as Bushenyi, which is also in the west of Uganda. Whilst this means more sales revenue, it’s also costly in terms of transportation.
With the present adverse economic situation, Swaibu has been hard pressed. He is undeterred, however, and with his upbeat disposition, he is hoping for a positive economic change soon. He has not bought into the idea of increasing the prices of his fish since most of his clients have low incomes. Swaibu says he makes close to UGX 50,000 daily from his business. He intends to use this Kiva loan to purchase more fish in bulk 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