Wema Self-Help Group
Albert Birundi M. is a 30 year old Kenyan father of six children. Also living with him are the two orphaned children of his late sister, who passed away two years ago.
Albert started his business four years ago after accumulating savings from his previous job. He currently operates a small retail cereal stall, but he would like to expand his business and start operating a wholesale shop. He is the breadwinner for his family, and expanding his stall would enable him to support his children and wife, who has a low-paying job. With the little profit that he gets from the business, Albert still struggles to feed, clothe, and educate his children and pay the rent on his house. But with the help of his loan, he will be able to expand his business and increase his monthly sales.
Disclaimer: Due to recent events in Kenya, the security situation in many communities remains unsettled, affecting many local businesses. Lenders to this entrepreneur should be aware that this loan may represent a higher default risk, and should be willing to accept this additional risk in making their loan.
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