Lwensinga Tusakimu Group
Goret is a typical farmer. She grows beans, maize and millet. She has applied for shillings 300,000 which she will use to buy good quality seedlings of maize and beans for planting during the rainy season in September. She will use the profits after sales to pay school fees and buy her other household necessities. Goret is determined not to be left behind in this fast developing economy. Goret is standing at the front row on the left dressed in a pink attire.
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