Byona Biyinzika S & C Co-Operative Society Group B
Musa owns a restaurant in Kampala. He has been in this business for close to 7 years now. He offers all delicacies, but it is mostly the local delicacies, like cooked bananas, stemmed green vegetables, ground nut sauce, etc. that most of his clients are really partial to.
Musa is hoping to begin with a clean slate on the threshold of next year. He envisions expansion. This, he says, has been long overdue due to the fact that his clientele has been increasing.
Musa says this Kiva loan will come in handy in the purchase of more foods for his restaurant like bananas, cassava, maize flour, dried beans, ground nuts, rice, peas, yams, and sweet potatoes.
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