Hard-working 40-year-old K. Elizabeth has a dependable sense of purpose regarding anything to do with her six-year-old agro produce business. The devoted farmer has worked tooth and nail to keep her business, which trades in general produce sales from Karibagyira, Kyenjojo town. On the sunny side, her strong work ethic has gotten her far. Her business currently generates 140,000 Ugandan shillings on a monthly basis. With these modest earnings, she has been able to make the best of the bad bargains that have hit her business on occasion. She gleefully reveals how she is able to educate her five school-going children (out of her eight children) in different institutions of learning with her small profits. With this loan, she envisions being financially empowered to buy more stock of maize grains, beans and cereals as she looks at expanding into a wholesale business and improving her household income from the sales in her business.
K. Elizabeth appears at the top left in the small photo just like in the big group photo.
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.