Kweterana Women's Group
32-year-old Geofrey plies a retail enterprise in Ntungamo and he can attest to the above. The lusty father of four says he obtained a footing five years ago in this business with savings from his agro sales business. On the side, Geofrey also ekes out side income from his farming business.
At his shop, he sells a variety of general merchandise retail commodities, to wit- sugar, soap, salt, cooking oil, etc. The fact that he incessantly restocks his shop with goods when demand is high has lent his business countenance. Five years experience in the retail business has brought him to terms with the many fundamental aspects of enforcing and consolidating growth in a business. Remaining philosophical in the face of adversity is also another invaluable lesson he has learnt.
Geofrey's weekly gross sales income is to the tune of Uganda shillings 100,000. His second fiddle business is farming. This Kiva loan, he says, is to render him help in the purchase of more retail stock to resell. He is planning on purchasing more sugar, salt, maize flour, cooking oil, 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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