Fifty-six-year-old M. Joyce has been in a food sales business for the past 10 years in Mpara Trading center-Kyenjojo. She has mostly been selling fresh foods such as beans, peas and cabbages at her stall. The story of how she started bearing a hand in this business is similar to many of her contemporaries doing the same business. She says the need to support herself and her kids financially is what spawned her interest in this business. Joyce is happily married with 1 child and she says this business generates profits to the tune of 30,000 shillings per week. Joyce says with this loan, she is going to purchase more fresh foods to resell.
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.