35-year-old Pascal is meticulous and painstaking in making his wooden furniture, be it tables, windows, sideboards or chairs. Some of the items he made recently were bought by one of the biggest showroom furniture exhibition sales entrepreneurs in the nearby metropolis of Kampala. His assiduousness, tenaciousness and sense of determination have been pivotal as he goes about his daily furniture-making trivial round. Carpentry is a profession often glossed over. By all accounts, many people carry the conviction that making ends meet out of it is not a viable prospect. It’s often regarded as a business for the less educated. There has been a turn in the tide however, as many school curriculums now lay emphasis on teaching and training in vocational subjects geared at inculcating in young people practical skills and knowledge. The change in the status quo has brought forth better fortunes for most carpenters. The stereotype is slowly and gradually being dispensed with.
Pascal is happily married with six kids. He obtained a footing in this business with savings from his farming business five years ago. For Pascal’s group, this is the first loan. Weekly, this business's gross sales are to the tune of 80,000 Uganda shillings. Pascal says this loan will enable him to procure more timber to make more furniture.
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.