M. Margaret is a 52-year-old lady who is married with 5 children aged 34 – 23 years, with only 1 child still at the University level. Margaret also helps to take care of her siblings, some of whom are in school. She is a business lady with a hardware shop in Wantoni and her main biggest challenge is having bad debtors that affect her business cash flow. Margaret is able to make 300,000 UGS as profits, and this is attributed to the good customer care and the available stock due to the use of loans. She has a dream of building rentals and educating her last child and her siblings to the highest level. She needs a loan to restock her hardware shop with more materials.
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.