Bakuseka Magya Development Group Of Mukono
The fisheries are raising prices, though, and Prossy’s capital levels are too low to maintain her standard levels of inventory. She would like to use the loan of 300,000 USH to increase her stock and keep up with demand.
The good quality of the fish she sells has created a loyal customer base and she hopes to continue being successful. Her dream is to one day have a big stall in the market and to be able to educate her children.
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