Kamu Kamu Group, Lugazi
At present, Christine’s thirteen-year-old general merchandise retail shop is a beehive of activity. That, in essence, means her profits have been increasing over the years as her good reputation continues gaining currency. Before she embarked on this business, she was operating a stall where she sold coffee. With profits from that erstwhile business she started her general merchandise enterprise.
All Christine’s five children are on the brink of finishing their primary and secondary education. For Christine, this loan means a lot to her in terms of financial empowerment. She divulges she will be able to purchase more bags of sugar, snacks and other general merchandise stock.
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