John is a hardworking man and a taxi driver on the Kampala- Bugerere highway, taking passengers to and fro. He is happy that the loans have made his taxi work well, enabling him to repair it whenever need arises. He has been able to buy land from it, has bought cows that give him milk and he also has farms for agriculture where he is able to produce food for sale and home consumption.
John needs a new loan to help with paying school fees for his six children and to employ workers to help his wife with the farm work.
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