Rose has had a retail shop as her business for eight years and although she tries so hard to make it stand, she faces the challenge of bad debtors that take goods and then fail or take a very long to pay back. She is able to make 140,000 UGX in profits per month due to the good products and good customer care that keeps attracting more and more customers. Rose has a dream of expanding her business further so that she can have a very happy family in the future. She needs another loan to be able to restock her retail shop with more goods like sugar, salt, soap, cooking oil, bread and so on.
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