Solemba Self-Help Group
Salima purchases her bales of clothes every month from various shops in Nairobi, the capital city of Kenya. With the little profit she gets from her business, Salima is able to clothe, feed, and educate her children. With the help of her loan, Salima will be able to purchase clothes in bulk to enable her to increase her monthly sales. Her long term vision is to open up a boutique.
Disclaimer: Due to recent events in Kenya, the security situation in many communities remains unsettled, affecting many local businesses. Lenders to this entrepreneur should be aware that this loan may represent a higher default risk, and should be willing to accept this additional risk in making their loan.
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