Byona Biyinzika Savings Group B
What has kept her business afloat is the fact that she plies her business in one of the cheapest and most popular food markets in the metropolis of Kampala in Uganda. This food market is highly popular and any entrepreneur who plans out effectively and serves his clientele well can do great business.
Monthly, Agnes's gross sales income is Uganda shillings 120,000. She says this loan will come in handy in the purchase of more foods, such as bananas, sweet and Irish potatoes, beans, pineapples, 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