Katabushera Tukore Group, Rukungiri
Before James even took thought of setting forth on this business, he was a builder who survived on peanuts. Builders are not highly paid in his part of the country. In a month, this cheerful hard working gentleman says he now makes close to 200,000 shillings.
With this loan, James wants to buy bags of the more lucrative coffee crop that he thinks will earn him more income. He thinks he has already laid a strong foundation for the future and, with this loan, he says his future business prospects are promising.
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