Sikyomu Widows' Association, Mpigi Group
Betty is also a goodnatured widowed mother of four kids. She says it’s mostly the youth who are her customers. Her business started off small by her purchasing small bales of secondhand clothing that she sold at discount prices. This laid the foundation for her current business.
In a month, Betty makes 650,000 Ugandan shillings and with this loan she wants to buy more shoes to sell and also some secondhand clothing that she will sell as well.
Betty belongs to Sikyomu Widows' Association of Mpigi.
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