Matsya Tweyambe Group
The purpose of the loan is to buy more drinks for the bar as well as retail stock so that she can earn some profits after selling. Scovia's clients come from within and around the nearby trading center. She hopes to expand her business so as to get some profit and be able to send her children to reasonable schools with good grades.
The only challenge in her business is the rate which people default. Scovia is an honest and trustworthy person. She says her business is profitable and she hopes to finance her loan with ease. She is also thankful for the group for supporting her in improving her household welfare by guaranteeing her for the loan.
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