K. Twaha, 43 years old, has for the last 8 years diligently operated his lucrative timber sales business in Kasubi-Mpigi. With 200,000 UGX as weekly profits, he has come a long way in establishing himself. He has improved both his business and his family's welfare. Being a family oriented man, he has gone out of his way to ensure that he gives his children a worthwhile education. He began as a lumberjack and bakery worker before he ventured into timber sales. He also ekes out profits from a small farming business. He is married with 6 children. With this loan, he wants to purchase more timber for resale.
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.