Bbogo Women's Group
Dezi is 42 years old, married and has 10 children, six girls and four boys. She chairs a loan group that has been together for 10 years. All of the group's members agree that before loans were available, life was hard and if your business encountered problems, that was the end. Now, one can get a loan and invest in other businesses while growing your own and helping it through hard times. Because this is possible, local people can now send their children to school.
Dezi has applied for a new loan to expand her businesses by buying more bananas and a drum in which to make waragi, as well hire workers for her farm who can help her prepare to plant new crops. The other members of this group will use their portions of this loan to expand their own small businesses.
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