Bakyala Kwekulakulanya Group 1, Lugazi
Amina has a clothing store in Kinyolo that has been operational for 10 years, and she is able to make 60,000/= as profits a week. Her business is mostly affected by the ever changing seasons, high price of stock plus the high rent for her store. She ensures that she has enough stock for her customers to choose from, plus having competitive prices. She hopes to expand her store in future as well as to have an educated family. Amina needs a loan to help increase her working capital since she spent most of it on 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