Kasulenge 11 Tususumuke Women Group
His personal goals are educating his children in higher institutions of learning and building a permanent residential house. His goal for his business is to move it to a more permanent location.
Richard is a member of the above-mentioned group, where each member guarantees the other, as per policy, in accessing a loan. He is requesting a loan to buy merchandise such as cooking oil and salt for resale.
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