Kitookye Trading Centre Society Group, Kihihi
His clients vary from hotel owners and housewives to retailers. Justus says he still runs his farming business given the fact that it is a dependable means of livelihood in Uganda. Justus says he has managed to give all of his children an education using profits from his businesses. Justus needs a loan for business expansion so that he can buy and sell more produce.
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