Her main challenges include bad debtors, price fluctuations, high rent, and competition in her village. She would like to expand her business to get more income to support her grandchildren, and meet their school fees requirements.
The loan will help her buy body jelly, hair oil and other products to sell. These products will be on high demand now, since it's near the festive season and people want to look good during Christmas. She is sure she will have big sales!
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