Frank's shrewdness saw him into the business of selling goats six years ago. He works every day of the week to maximize profits. He wants a loan of 500,000 Ugandan shillings to buy a few bulls that he will fatten and then sell in 3 months at a higher price. His dream is to become self-reliant. He is, however, challenged by diseases, shortage of grazing land and an unreliable market. With the help of this loan, he has been able to meet his family obligations and pay school fees for his children. The ninth person in the photo 4th from the left behind wearing an ID is the Ugafode staff in charge of the group. He consented to be published.
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.