Rwemengo Tumanyane Group, Ibanda
Fourteen years ago he started his business after selling a cow. He is very hard working and social and he says that working with his wife has enabled him to succeed. He is also involved in the sale of milk from his cows and this supplements his income. He needs a loan to be able to purchase produce for the store.
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