Nyamiryango Wns Group
Magret has been a farmer for 20 years. Her main hardship is inadequate capital to venture into modern farming methods. She also has a vision of diversifying her business to new areas.
Magret intends to use the loan to pay workers to mulch her garden. She is a member of the abovementioned group where each member guarantees to support one another.
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