Kabirizi Kwetungura A, Kihihi Group
Bosco buys goats and pigs from the surrounding villages which he slaughters and gets ready for selling to his genuine customers who have supported him this long. His business has grown to the extent that he has been able to have his children undergo education. He reveals that, in a month, he makes 360,000 Ugandan shillings and also makes some additional income through his side business.
Bosco’s drawback is having small stock of goats and pigs in his business. Therefore, would like to use this loan to restock his business by buying more animals for his daily butcher job. His future plans are to expand his business and improve his sales revenue.
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