Bufunda Garage, Ibanda Group
For a long time, Muzamira’s motive has always been to set up a spare-parts shop as there is a ready market available. This would help him to better progress his mechanic’s job more fairly with the extra expense of purchasing machines from other people but the ability to earn more profit.
Therefore, with this loan, Muzamira hopes to buy more spares for repairing bicycles.
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