Phoibe has been selling food in Dodoma, Tanzania for four years. She has a small stand in which she sells snacks that she cooks, vegetables, and small fish. She is taking out her first loan so that she can purchase more ingredients and items to sell. She currently works for seven hours every day and earns approximately $135 each month, but she is hoping that she can increase that profit so that she is better equipped to expand her business and begin to save some money for the future.
Phoibe is 29 years old, married, and has two children, ages 6 and 9. She will be sharing this loan with her fellow group members, Baselisa, Emmy, Pasquna, and Christina.
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.