Nyakabungo Bakyara Tukore Group
The referenced person above goes by the name of Benon, a 44-year-old father of six who, on the face of it, radiates nothing but warmth, humor and confidence. It's now 13 years in this enterprise.
By and large, his business successes outweigh his shortcomings but making the best out of bad bargains is a philosophy he was taught and still reckons up to now.
His auxiliary business is farming. Farming was literally his maiden business.
Weekly, this business's gross sales revenue is to the sum of Uganda shillings 100,000.
For Benon, this is his second loan cycle. Some other members in his group are in their fourth cycle and some on their first cycle. The repayment record for the group has been up to the mark. Benon intends to use this Kiva loan to purchase more goats 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