Nyabiherere Bakyara Tutungukye Group
Benon plies his trade in one of the biggest food markets in Ibanda. What has helped his cause is the fact that he is a farmer. On his farms, he grows and harvests crops such as maize, rice, bananas and yams. At length, these are the crops he sells. Weekly his business's gross sales income is to the tune of Uganda shillings 80,000.
He says he intends to use this Kiva loan to purchase more maize and bean seeds to grow.
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