Sepriano is a friendly, hardworking and determined man and the leader of his lending group. He ensures that he has the right stock for his customers hence making more sales in a day. He hopes to expand his business further and ensure that he gets necessary items for his family. Sepriano’s loans have helped him pay school fees for his children as well as enabled him to save for future developments. He needs a loan to help restock his shop with more goods for resale.
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