Kamwokya Ii Development Group
Faith M., the chairperson of the Kamwokya II Development group, is a multi-business woman. She rears 250 local and broiler chickens at her home, a business she has had for seven years. She also sells tap water. And through the chicken business, she was able to start up the food processing business where she makes and sells juice, cakes, and other confectioneries. In all these businesses, she employs no one but works hand-in-hand with some of her children. She needs a loan to help buy more chicks and stock chicken feeds because the prices are going up by the day.
Faith is 53 years and married with six children. Though only one of her children is still in school, she cares for five other kids of which four are in school. The rest of the children are grown up and working in their own businesses.
Her group has been together since 1992 and they are grateful to Pearl Microfinance for the loans that have enabled them with the smooth running of their businesses.
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