Kayunga Market Women's Group 1, Kayunga
Jane is a married mother of two and, along the way, she has not had it easy. In a word, she describes her experiences as chequered, just as in any other business undertaking. That courage of conviction and perseverance, she says, have been her stock in trade.
In a week, Jane makes 60,000 Ugandan shillings and, with this loan, she wants to buy more fresh vegetables and fruits to resell and henceforth make more profits.
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