Nyarutuntu Kalibaimukya Group
Like many traders, he is challenged by inadequate capital to purchase in large quantities and the seasonal nature of the business. He has a personal goal of building a permanent house and a business goal of diversifying his business to include food selling and also to become a wholesaler. Vicent, who is dressed in a pink shirt, intends to use the loan to buy clothes to sell ahead of the Christmas season.
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