Joyce has been a vegetable seller in the Sakina neighborhood of Arusha for 3 years. She currently earns an average monthly profit of US$ 40. Every day she works at her business from 12:00 a.m. to 7:00 p.m. She is requesting a loan from BRAC Tanzania so that she can buy more vegetables for her business. She is hoping that through this loan, her profit will increase and she will be able to grow her business.
Joyce is 31 years old, married, and has three children between 12 and 4. She will be sharing this loan with her fellow group members, Fatuma and Farida. Each woman has her own small business in Arusha.
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.