Kahengye Adult Development Group
At the end of every month Richard is able to pocket profits to the tune of 180,000 Ugandan shillings in addition to his monthly salary for his teaching profession. He employs one person to help with his shop while he is away. His main drawback has been having a small amount of stock in business that cannot match the consumption rate of the customers.
Richard is therefore seeking a loan that he figures will help him stock more goods that will satisfy his customers’ high demand and also transform his enterprise into a wholesale business. Being very committed to the business, with good customer care, he hopes to increase his sales revenue. This will bring about a transformation in his business and enable him to achieve a self-sustaining life and cater for his family’s requirements.
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