Kyasa Twegate Group
For ten years Vicent has been farming and with the proceeds he has been able to pay school fees for his children. He started as a subsistence farmer but now farms commercially. He has challenges of inadequate capital to buy farm inputs, as well as price fluctuations and inflation. Vicent wants a loan to buy seedlings for planting.
Vicent's personal goals are educating his children and building a permanent home while his business goal is hiring employees to expand his business.
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