Rusinga Self-Help Group
Abraham started his business 3 years ago, after accumulating savings from his former work place in a local hospital in Bungoma town. He currently deals in men’s second-hand shoes but would like to diversify to children’s and ladies’ collections as well in the future.
As he is the bread winner for his family, it would enable him to support both his children and his wife, who does not have a job. With the little profit that he gets from his business, Abraham still struggles to feed, clothe, and educate his children.
With the help of his loan, Abraham will be able to purchase second-hand shoes in bulk to enable him to boost his 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