Bwizi Fraternity Group
Lawrence is described as a very hardworking businessman who has managed to sustain his business over a long period of time. His retail shop generates about 50,000 Uganda shillings as profits per week. He says the long time he has spent in his business is due to his good customer care, hard work and determination.
With his Kiva loan, Lawrence plans to buy more retail goods like rice, soft drinks, maize flour, beans and salt to resell at his shop.
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