Byona Biyinzika Savings Group D
Entrepreneurs like Norah have banked on stocks in trade similar to the aforementioned. Norah says she set forth in her business with a friend's prevail upon influence. Her weekly gross income totals Uganda shillings 130,000.
She intends to use this Kiva loan to purchase better cosmetics and other salon equipment to use at her beauty salon.
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