Mpenami is 39 years old, married, and has 5 children between the ages of 4 and 22. She entered the clothing industry in 2007, and opened her own small store. Everyday, she works from 10:30 AM to 3:30 PM. On average, Mpenami can earn a monthly profit of $125 from her sales.
Mpenami now hopes for a loan that would enable her to purchase more clothing and more items for her business. She will also share this loan with her subgroup members, who also have businesses selling fish, charcoal, coconuts, cakes, and firewood.
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.