Kigando Abeteraine Group
Grace is charged with the responsibility of looking after her family, and her dream is to be able to educate all her children up to the university level. She has been running a small retail shop for ten years which has boosted her income level. Her business plan is to become a wholesale trader. Grace needs her portion of this group loan to buy sugar, coffee, soap and salt to sell at her shop.
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