Jovailo is a 49-year-old divorcee with four children. Since she divorced her husband who later died, Jovailo needs income to boost her business in order to help her look after her children so that they can have a better future. She conducts business on a small scale. Her main challenges are price fluctuations, unpredictable seasons and dishonest clients who buy goods on credit and never pay.
Evas, another group member, wants to buy more goats to trade as well as beans, maize, nuts and bananas. Her husband is unemployed, so she is the one looking after the family. Price fluctuations and foot-and-mouth disease are her major challenges.
The women are grateful to Ugafode and the group for having helped them to be independent in terms of finance. They are now doing well, and their children and families are well cared for thanks to sensitization received through the group.
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.