For ten years, Max has had a business dealing in agricultural products, buying and selling coffee and cotton from Mirarikye. The coffee and cotton are sold to the coffee factories and ginneries respectively, hence enabling her to make monthly profits of UGX 300,000. Her main challenge is that during the rainy season, the roads become impassable, hence increasing the cost of transportation of the produce.
Max employs coffee and cotton collectors and provides them with bicycles, hence enabling them to make enough purchases. She has a dream of owning a pick-up truck that will help to collect the produce from the furthest of villages and transport it to the factories on time. Her loan will be used to buy coffee for resale and to buy a bicycle to help in the business. In most cases, her loan money helps to replace business capital that is taken out for 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.
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Success!! The loan was 100% repaid