Inne makes a living selling fish in the Mikunguni neighborhood of Zanzibar, and earns an average monthly profit of $125. She works at her business for 14 hours a day. Inne is seeking her first loan from BRAC Tanzania to buy more fish to sell to her customers. She is hoping that this loan will allow her to increase her profits and expand her business.
Inne is 23 years old, married and has three children aged 6, 4 and 10 months. She will be sharing this loan with her fellow loan group member, Mwanaisha, who also owns a small business in Zanzibar.
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.