However, she is convinced that her business will grow better with increased capital and has applied for this loan in order to increase her stock. Florence believes that this will decrease her purchase cost very significantly which will increase her income and enable her to expand the business.
Florence belongs to a community group called Lydia ‘mma’ (meaning Children of Lydia) Trust Group. Members in this group guarantee each others’ loans by providing social collateral for loan access and peer pressure to repay the loan. This photo of Florence was taken during her group meeting.
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Success!! The loan was 100% repaid