Kicwamba Tukore Group
David makes an array of timber products at his workshop, such as chairs, tables, desks, sideboards, etc. He, at length, resells most of his products to his clientele, new and old alike. The good quality of his products has won him laurels. He has been able to consolidate on his achievements in the past 16 years, albeit with hard work and determination.
Farming is his other side source of income. As a matter of fact, David says he took root in his carpentry business with savings from his farming business. This business' gross monthly sales revenue is the sum of Uganda shillings 250,000. David says he intends to use this Kiva Loan to purchase more timber for use at his workshop. He anticipates being able to make more of the aforementioned wooden products to resell.
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