Gbessouvegni Brigitte's Group
Brigitte has been selling grain in her shop for the past six years. She purchases her supplies twice a week from wholesalers in her area. Brigitte, together with her group mate, has sought and obtained a micro loan from Fnadev. With this loan, Brigitte hopes to increase her capital and meet the demand of her customers. Brigitte's goal is to maximize the income she earns, some of which she will use to further the education of her children.
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