Romana is divorced and the mother of four children who range in age from 20 to 26 years old. She owns a shop and a house which she rents to other people. Ramona started her businesses in 1993. Every day, she works from 6 a.m. to 9 p.m. and can earn a monthly profit of about $350.
In the past, Romana successfully repaid a loan from BRAC Tanzania that she used to expand her business. She has now applied for a new loan to buy more items to sell from her shop. She will divide this loan among the other members of her group, Winifrida, Helena and Emyrose, who run small businesses of their own, including operating a general store and raising livestock.
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.