Bughoye Twanzane Group
Edward has a business selling coffee and beans, which he has been doing for three years. He started with 100,000 shillings and now has 600,000 shillings. His challenge is limited capital; his vision is having a big store for produce plus educating his children. Edward is requesting a loan, which he will use to buy beans to sell.
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