Rwobusisi Bakyara Tukorerehamwe Group
The six years have been chequered years in terms of fortunes but, by and large, she says her achievements are more noteworthy than the adversity she has faced. Many rank and file people in rural areas where Peace plys her business are partial to retail outlets because of their favorable and pocket friendly prices.
Before Peace established this business, her daily round mostly revolved around house chores. She has come a long way from her wits'-end situation. At present, she also has a modest banana sales business from which she ekes out a side income. Peace says that her gross monthly sales income totals up to 135,000 Ugandan shillings. This is the fifth time that Peace's group has received a loan from Pearl Microfinance and their repayment record has been good.
Peace says she intends to use this Kiva loan to purchase more retail items such as sugar, soap, cooking oil, plastics, etc. 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