Aboke Self-Help Group
Joseph started his business 4 years ago after accumulating savings from his former workplace in a local hospital in Kisumu town. He currently operates a small retail cereals business of maize, rice, and green grams (mung beans) that he sells to his customers in the neighborhood.
Being the sole breadwinner for his family, Joseph has to support his children and his wife, who has a low-paying job. With the little profit that he gets from the business, Joseph still struggles to feed,
clothe, and educate his children and to pay his house rent. With the help of his loan, Joseph will be able to purchase more bags of different grains to enable him to increase his sales. He also hopes to open up a cereal wholesale unit from the business profits.
Disclaimer: Due to recent events in Kenya, the security situation in many communities remains unsettled, affecting many local businesses. Lenders to this entrepreneur should be aware that this loan may represent a higher default risk, and should be willing to accept this additional risk in making their 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