Isaiah K. is 55 years old and married with 5 children of school age, and he also takes care of 3 dependants. Isaiah has a grocery and farming business in Bufunda Street that he has owned for over 20 years, and he is able to make 400,000/= in profits per month from both businesses. With the good customer care skills that he provides to his clients, he has been able to succeed, especially with the additional help from the loans he has previously received. He hopes to see his children educated to the highest level of education as his businesses continues to grow. Isaiah needs a loan to help restock his business as he is a friendly and cooperative man.
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.