Asia is 40 years old and the father of five children who lives in Fort Portal, Uganda. His personal goals are to educate his children and build a permanent home. For the last five years, he has earned a living by running a retail shop. He started as a market vendor but now has his own shop. His major challenges are price fluctuations, customers not paying on time and high fuel and transportation costs. However he has a goal of diversifying his business to include farming and wants to buy land on which to grow crops. Asia is requesting this loan to buy sugar, soap and beans to sell to his customers.
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.