Bugolo Lending Group
Tausi N. is the chairperson of the Bugolo Lending Group in Kikondo, Lugazi. She is 42 years old and married with sx children, and also cares for two more kids. One of the children is an orphan and one is her step-child. They are both in school along with three of her kids.
Tausi's business is buying "mukene" (small silvery fish) from Kikondo to sell in the Tororo district. She's quick to say that the transport costs are worth it because each time she has to move she takes around 80 basins of fish, which she can buy for $400.00 and then sell for $500.00. She can't earn this profit margin if she is stationed at Kikondo in her area. She says the loans have really been helpful because she's been able to stop renting. She would now like a loan to expand her business and buy another plot for farming.
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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