Kabungo Women's Group - Ntungamo
For 12 years, Jolly has been in the business of selling produce, which includes beans, sorghum and maize, from Kabungo. She is able to make 100,000 UGX as weekly profits. She is also a farmer, growing other produce like bananas, which she also sells.
She needs a loan to be able to buy more beans, sorghum and maize. She is very hard working and her dream is to be able to enlarge her business.
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