Nakalasa Development Group-Lugazi
Steven describes his clientele as general in scope, meaning he sells to different classes of people. His business generates 100,000 UGX for him monthly. With this loan he wants to purchase manure for his gardens. This, he says, will help improve his crops, thus allowing him to sell his improved yields at a higher competitive market rate.
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