Kukola Development Group, Mukono
Margaret is a focused and highly motivated entrepreneur who has been running her retail shop in Kirinya-Bombay in Mukono district for the last twenty years. Her long span in this business is, by her own account, a testament to her good relationship skills which have positively impacted her customer base.
Margaret’s profit estimates are in the range of 300,000 Ugandan shillings per week. With this loan, it’s her deduction that she will be able to substantially expand her retail business.
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