Bwanika Tukwatanize Group
Joseph operates a boutique and has been in business for ten years now. His major challenges have been ever-increasing rent and price fluctuations.
Joseph is requesting a portion of the loan in his group of twelve in order to buy more clothes to sell. His desire is to build his own business premises and to educate his children up to university.
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