Bundimasoli Kweyamba Group
Yeremiya is a member of this loan group in which each member guarantees the other in repaying the loan. With his portion of this 12,000,000 UGX from HOFOKAM he will buy extra fish to sell.
Yeremiya intends to expand his fish business into new markets and buy land on which to grow crops. His ambition is to educate his children up to university level and build a permanent house for his family.
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