Tuutuuka Group 2
Annet's menswear shop is only one year old, but it is already thriving. She has recently begun to complement her retail business in Kayunga by selling some of her stock at several markets in the area. The market side of the business is proving to be more profitable and so she is seeking a loan to buy more stock. Buying in bulk from Kampala will reduce the cost of the clothes as well as of transportation. Annet will sell this new stock at various markets in the area..
This is a group loan. The loan funds will be distributed among the group members, each of whom will invest in her own business. The members mutually guarantee one another's loans. If one member does not repay, the other members are responsible.
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