Kayunga Market Group
It has been 10 years that Henry's been running the business. His motivations for business success are to provide welfare for his children and family, as well as for himself. He will be using the loan to expand his business: to pay workers for his farm, clear the land, and assist in paying other expenses. Henry has had 7 loans so far. The group is one of the oldest-- about 10 or 11 years old.
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