Kiwamirembe Women's Group-Mukono
Margaret is part of a group of borrowers called Kiwamirembe. Margaret is happily married and has nine children. Margaret works hard, and she makes 100,000 shillings a week. With this loan, she will purchase more hardware parts for resell at her shop so she can increase her 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