Leonard is a 32-year-old married man with six children aged between 12 years old and 1 year old who reside in Kagadi, Uganda. Due to his passion for agriculture he started a produce business seven years ago. He has been able to build rental houses to supplement on his produce business and also has continued to do farming. He dreams of educating his children. Weather and bad roads affect his business. He is a member of Abagambakamu Kibogo, a group he joined to be able to access this loan. Leonard wants a loan to buy beans and maize for resale.
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.