Aboke Kinda Self-Help Group
Monicah has been running her business for a period of 4 years, and she got her initial capital by accumulating savings from her former work place. Currently Monicah deals in ladies' clothes, but she would like to diversify to a men's and children's collection in the near future. She purchases her bales of clothes every month from various shops in Nairobi, the capital city of Kenya, and sells to her customers in Busia town. With the little profit she gets from her business, Monicah is still able to clothe, feed, and educate her children. With the help of her loan, Monicah will be able to purchase more bales of clothes to boost her business 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