Mikole Twimuke Group
She is a farmer for ten years. Mary specifically growing Irish potatoes. She started with a small garden and she adding kept on season after season.
Mary is faced with the problems of seasonal weather changes like drought which affects her output, inadequate capital to purchase farm inputs and above all...price fluctuations and inflation.
She has a personal goal of educating her children and building a permanent home residence.
Her business goals include buying land to grow crops and hiring employees to help expand the business.
Mary wants a loan to pay workers who are weeding her Irish potato garden.
She is a member of the group where each member guarantees the entire loan.
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