Thomas has been selling dried cassava and cassava flour for the past 20 years.
This is his seventh loan with Turame. With his loan from Kiva, he will boost his capital and buy a large a quantity of dried cassava, part of which will be sold as such, while the rest will be processed into flour before being sold. This loan will ultimately help him to make more money.
Il fait le commerce de manioc sec et de la farine de manioc depuis 20 ans.
Il est à son septième crédit à Turame. Avec le crédit KIVA qu’il obtient, il va augmenter son capital et acheter une grande quantité de manioc sec; une partie sera revendue comme telle,une autre sera transformée en farine avant la vente, pour gagner plus.
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