Teopista, a 42-year-old married mother of four living in Kyenjojo, Uganda, has operated a stationery shop for 13 years. She started with 600,000 shillings from her own savings and now has capital of 3,000,000 shillings. Customers not paying on time, high taxes and inefficient power supply are her main challenges.
A member of Katooke Kwekamba Group, whose participants guarantee each other's loans, Teopista is requesting a loan to buy stationery to sell. She has a personal goal of building a permanent house and a business goal of diversifying business to include a restaurant.
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.