M. Ferdinand is the leader of the Bulera development group. He is a hardworking elderly man and an achiever. Ferdinand is a farmer with sugarcane plantations, pineapples, matooke, beans, maize, and plantains as well as keeping animals like pigs, cows, poultry and sheep; that is why his home is always full of commotion, both from people and animals. He started his businesses in 1970 after he resigned from work in the tea factories. He started very small, and a few years down the road, he did not regret his move. But again, life these days is more favorable, as he is able to get money to employ labor on his farms as well as paying school fees for his children and grand children. He is a married man with 7 children, 3 of whom are still in school. He also pays school fees for 5 grandchildren, since their parents past on. He is grateful that most of his customers come to him for their produce; hence, he does not have to incur more costs on transport, regardless of his old age. In all his businesses, he works hand in hand with his wife and together they have managed to come this far. Ferdinand needs a loan to hire more manpower on his farms for quick and better crop yields, and paying school fees.
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.