Bbogo Women's Group
This happily married father of 8 says he began this business with savings from his agro sales business. On the side, Sunday also has a butcher shop which he says brings in additional income. Monthly, he says this business generates for him 700,000 shillings in profit. He says with this loan he is going to buy more fish to resell and use the rest of the proceeds to pay school fees for his kids.
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