Najjembe Group 2, Lugazi
Teddy has a restaurant in Najjembe that she has been running for a long time. She has been able to win many clients because of her experienced cooking and good customer care. Her customers are mostly the traders in the Najjembe market and truck drivers who rest in the area. Teddy usually buys her foodstuffs in large quantities at a less cost, and she wants to stock more foodstuffs for her restaurants.
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