Kihanga Women's Group
Being the philosophical and hard working gentleman that he is, Onesmus has taken most of the challenges in his business in his stride. This, in a way, has been his magic formula for success. Weekly, he says his sales profits total 130,000 shillings. He says with this Kiva loan he is going to purchase high grade manure for his banana farms.
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