Karungule Tweimukye Group
She started with a family contribution and over time her business has picked up. She has a challenge of customers not paying on time and inadequate capital to meet the high demand. She has a personal goal of educating her children and a business goal of expanding her business into new markets.
Eurelia wants a loan to buy agricultural produce such as maize and beans for resale. She is a member of the above mentioned group where each one guarantees the other in accessing a 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