Bulamu Women's Group
The purpose of the loan is to diversify his piggery business by buying animal feed and stocking more pigs. He is an honest and hard-working man, but he has always been constrained by financial issues in his business. He says given the loan, he will stock more piglets for the festive season. His main clients are well-wishers, and he also supplies to big pork joints within the city outskirts.
He has future hope of expanding his business gradually to be able to earn a living.
The Ugafode credit officer in charge of the group in shown on the left in the black top.
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