Joyce is 38 years old. She is married, and has 6 children between the ages of 5 and 17. She has owned her own livestock business since 1994. Every day, she begins work at 7AM and finishes at around 6PM. On average, she can earn a monthly profit of around $50.
In the past, Joyce has successfully completed one loan from BRAC Tanzania. She used her first loan to expand her business. Joyce is now requesting a loan in order to improve her current stock. She will also share her loan with her current subgroup members, who sell various foods such as maize and produce.
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.