Robinah has owned an operated a retail electrical supply stall above the old taxi park in Kampala’s city center for 15 years. She sells such things as assortments of wire, switches, power outlets and light appliances. Her monthly profit averages 150,000 to 200,000 Ush.
She began using loans many years ago to help develop her business. Her first loan was 50,000 Ush. Her current loan is 1,500,000 Ush, and her revenues have increased commensurately. Robinah will invest the loan proceeds to restock her supplies of copper cabling, arrestors, switches, plugs, power cables, outlets, and related electrical supplies. She imports her stock from Kenya and Dubai, and her smiling face and expertise keep her customers returning.
Robinah’s family depends on her income to pay school fees and contribute to the family’s living costs. With Pearl’s compulsory savings program, Robinah saves 20,000 Ush each week. Someday, she hopes to transition her business into a wholesale distributorship. This will give her more sales and a consistent revenue stream. She and her husband hope to be able to afford a plot of land soon so they can construct their own home and see their children educated to the degree level.
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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