She is an example of a successful, hardworking woman, who has succeeded in living within her monthly profits of 500,000 shillings for the past nine years in Jinja. Nine years maintaining a successful business makes one a past master at making good decisions aimed at consolidating and reinforcing one's gains. Twenty-eight-year-old Monica M. started off small in her banana sales business, but her beginnings are something she now sees in perspective, given the progress she has made. She has her own stall in Jinja central market. Her clients are mostly the lowest common denominator, who stay around the central market area where she operates. Monica is married, with four children, of whom three are in school. With this loan, she wants to buy more bananas 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.