Black Smith Development Group
Atanasi started this job of scrap collecting twelve years ago because he did not have any working capital to start any business having dropped out of school due to lack of tuition. His daily job routine is waking up early in the morning and moving around the city in search for old metallic materials that help him in making items like charcoal stoves and saucepans that he sells to earn a living.
Atanasi loves his family and he is willing to work harder each day to provide the best life for them. He approached Ugafode Microfinance Ltd (MDI) for a loan to boost up his business by buying bigger pieces of used metal for recycling.
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