Kikoni Ii Twetungure Group-Ibanda
Frank's main limitation has been insufficient stock to meet customer demand, so he is now seeking a loan that will help him stock more goods to address this problem and also transform his enterprise into a big enterprise. Being very committed to conducting a business providing good customer care, he hopes to increase his sales revenue as he works toward achieving a self-sustaining life and catering to his children’s education expenses.
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