Apollinaire has been selling bananas for six years now.
This is his first loan from Turame. With the KIVA loan that he obtains, he will increase his capital and buy a large quantity of bananas to resell in order to make more money.
He uses the profits from his business to increase his savings, pay school fees and medical fees, and buy clothing for his children.
Il fait le commerce de banane depuis 6 ans.
C’est son premier crédit à Turame. Avec le crédit KIVA qu’il obtient, il va augmenter son capital et acheter une grande quantité de bananes à revendre pour gagner plus.
Avec le profit de son commerce, il épargne, paie les frais scolaires, assure les frais de santé et habille ses enfants.
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