For 15 years, Juliet N. has had a drugstore in Kavule, Mukono. She is married with four children and also cares for two orphans, all of whom are in school. Juliet has never regretted her decision to join her lending group. The loans have helped her to buy more medicine for her drugstore and to renovate her commercial houses. She needs a loan to help with restocking her drugstore with more medicines. Juliet is a jolly and friendly lady and all the people around her area call her ‘musawo’, meaning 'doctor'.
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.