Zinunula Women's Group1
Margaret is lucky in that she runs her business from her home and she makes shirts, skirts, trousers. In running her business, Margaret buys materials from Mityana and at times from Kampala and the clothes she makes are sold within Mityana town and out of her home since most people know her as an expert at what she does. Margaret needs a loan to be able to buy more material for her business.
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