Nkongoro Goat Rearing, Ntungamo Group
His main setback is that he needs to expand the business by buying additional motorcycles and allocating them in different stages so as to increase his revenue. His future plan is to buy a car for "matatu" (taxi) usage to earn him more money. With this loan, he hopes to achieve that aforementioned goal and thus will be able to take care of his family. Wilson belongs to the Nkongoro Goat Rearing Group.
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