Mutojo Tukwatanise Group, Kihihi
James has a business of selling second hand clothes from Katete Trading centre and he describes his customers as good clients. He is able to make 100,000 UGX as weekly profits and he needs a loan to be able to buy more clothes for resale. He has been in this kind of business for 5 years after investing money from his tailoring workshop. He is a very hard working man and one of his dreams is to be able to improve his tailoring workshop and educate his children.
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