Byona Biyinzika Savings Group C
He was prior to this, more partial to a charcoal sales business, which he still operates. David is, on the face of it, an assiduous, affable and good-natured gentleman who sees much on the horizon for his business. He envisages better prospects in the aftermath of using this Kiva loan. His monthly gross sales revenue is to the tune of Uganda shillings 180,000.
David says this loan will lend him countenance in the purchase of more retail commodities such as sugar, salt, cooking oil, etc 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