Mugarama Parents Association, Ibanda Group
This married father of one child has been running his business for the last six years in Magarama, Ibanda. Over this time, he has faced a major problem of having too little capital to purchase the materials used, including bananas whose price of 75,000 shillings is what he gains on a weekly basis.
Therefore, with this this loan, Robert is looking at reviving his business by buying more sweet bananas for making local brew and also expanding his retail shop.
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