Kayunga Market Women's Group B
Esther, a happy-go-lucky mother of two set forth in her pub business a year ago. She operates from Kayunga, a stone's throw away from Kampala. She had gotten disillusioned with the red tape manifest in formal employment.
Esther says from the day she started working, the thought of being her own boss always crossed her mind. She invariably wanted to have the leverage to make her own decisions. What has helped Esther in periods of uncertainty has been her ability to look on the bright side of things. A pub is a profitable venture so if one is painstaking in his or her plans and adds a sense of shrewdness, they are bound to reap big.
Esther sells both hard and soft beverages at her pub. Monthly, her sales profits add up to Ugandan shillings 350,000. Esther’s group is on their 5th loan with Pearl Micro-finance. Esther also ekes out a side income from farming. She says she will use her loan to purchase more crates of soft and hard drinks 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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Success!! The loan was 100% repaid