Retailing is what 46-year-old Resty has been inclined to practice in Kayunga for the last decade. The happily married mother of 3 also practices farming as a side source of sustenance. She is upbeat about the future prospects of her business. What has kept her optimism high is the fact that the competition in her genre of business in Kayunga is not so stiff. Monthly she says her sales income are to the tune of about UGX 200,000. She says she will use her loan money to purchase more commodities like sugar, maize flour, rice, beans, cooking oil, bread, etc. 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.