Teopista is the married mother of six children, two in secondary school and the rest at the University, each also working part-time. She is now requesting a loan to purchase more produce to increase her earnings. Receiving loans has improved her life and business since she is now able to earn monthly profits ranging from 100,000 – 150,000 shillings. She has dreams of educating all her children to the University level and completing her family house.
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