Kayunga Market Women's Group A
Cate says when all is said and done, only hard work, determination and perseverance have kept her business afloat. She says she began her involvement in this trade with no experience but casting her mind back, she says the fact that many people consumed fresh fruit and vegetables back in the day came in really handy.
Cate took stock of the fact that her business would benefit more if she started planting her own fruits and vegetables. She embarked on fruit and vegetable farming some years later and to a greater magnitude, it has lent countenance to her business transactions. Cate sells fresh pumpkins, sweet bananas, onions, tomatoes, apples, oranges, etc. Monthly she says her sales profits add up to Uganda shillings 200,000.
Cate reckons she will at length be able to earn more once she gets this loan. Cate says she is to use her Kiva loan to purchase more high value pumpkin, tomato and pineapple seeds to replant. She says if she starts harvesting on a bigger scale, her odds of further financial success are in the ascendant.
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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