Victoria Group 5, Lugazi
Flista has a business selling matooke (green plantain) in Kiyindi. She says that her challenge is that at times the matooke is too expensive hence reducing the number of customers, leading to some of her food ripening.
Flista has been in the business for seventeen years and she has been able to introduce the sale of charcoal to her business, hence increasing her income. She hopes to expand her business further as well as educating all her children.
Flista needs a loan to help with purchasing more matooke and charcoal for business sustainability.
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