Karago Basubuzi Group
For the past five years Erika has been selling fresh produce. She needs a portion of this group’s loan to buy more fresh produce to sell. The high cost of transporting her produce to different markets is her major challenge.
Erika’s desire is to set up a big stall in town. Her dream is to educate her children.
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