Kitintale Devt Group
Prossy is married with 4 children. She sells fruits and vegetables in a relatively busy trading centre. She does the business to meet the needs of the family. She works hard to recover profits from the fruits, which are quite expensive and perishable, so she has to keep them under favorable conditions so that they do not go bad. She has managed to establish a good foundation for the children through educating them, as well as providing for their basic needs.
Sylivia, another group member, sells sweaters and uniforms to sell to some schools. The loan will help her overcome the challenge of limited capital and also help her to deliver her products in time. She is grateful to the group members for their continuous advice and encouragement in helping her to go on, even when times seem hard.
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