Balikyewunya Gayaza Womens Group A-Kampala
50-year-old N. Christine of Balikyewunya Gayaza women's group in Kampala can relate to the aforementioned statement, given that for the last twenty years she has successfully been presiding over her secondhand clothing sales business in Kampala. She has been able to live within her means from this business for all these years. In a way, being a widow also pushed her to work extra hard, knowing she had to raise school fees for her kids.
Previously she was more into banana sales. It was a business that did not generate much in terms of profits, but she still managed to survive. Now, however, she wants to rejuvenate her current business with the purchase of more bales of used clothing to resell. In a week she makes about $27, a relatively low figure considering the responsibilities she has.
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