Tecla's Bustani Group
Tecla is a 39 year old divorced woman with three children, ages 21,18 and 13. Tecla owns a small cafe, which she started in 2005. Every day she works from 9 a.m. to 4 p.m. at her business, where she earns a monthly profit of up to $140.
In the past, Tecla has taken out two successful loans from BRAC Tanzania to expand her business. She now hopes for a loan to buy more items for her business. She will share this loan with her subgroup members, who have small businesses selling vouchers and alcohol.
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