Balikuddembe Kigenya Group
Margret is a divorcee, aged 27, and a mother of two, of whom one child goes to school. Her business is a retail shop, and she works seven days a week and 13 hours each day. She will use the loan to buy household items for sale in the retail shop.
She started her business in 2006 because it seemed well earning. Her clients come from the area and include passersby. The major challenge with her business is an unending list of debtors. She is going to use the loan for increasing the stock.
Her future hope is to buy a plot and build herself and her family a residential house.
Her word to lenders is to understand their clients, especially when they have an explanation for their failure to pay. The man kneeling is a group member who is still saving and hopes to get a loan in the next cycle. He signed the waiver form, though. The lady standing behind is a Ugafode staff member.
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