Mirembe Women Group
The purpose of the loan is to buy more firewood to supply to schools and also help her stock more fresh food. She has a dream of building herself a home on the small plot she recently bought. Her main challenge in the business is competition with her fellow traders and, at times, weather fluctuations which affect her very much.
Milly is grateful for the services UGAFODE gives to the low income earners in partnership with Kiva. The twelfth person in the photo is the UGAFODE credit officer seated on the front row, third from the left.
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