He is grateful for what the loans are doing for him, his business and family. He hopes to continue using them. He has had a shoe selling business in Kyaliwajjala, Namugongo for 25 years. His secret to business success is having enough stock for his customers at the right time.
Pastoli has a dream of educating his children and taking care of them in all aspects of life for a better future. He needs a loan to be able to buy more shoes for sale for increased stock.
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