Kasenyanku Women's Group
Paul has operated a retail shop in the Katende trading center for 5 years now, selling new clothes like gomesi for ladies, trousers, shirts, dresses and skirts. He sold this same apparel in daily markets in and around Mpigi until he solicited funds to open the shop. He is happy with his business and is now asking for a loan to purchase additional inventory. Paul hopes to one day have many branches of his shop.
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