Evelyn is taking the loan to buy plantains for sale to her clients. Since it's the festive season, there will be many customers buying plantains for the season which will increase her sales and income.
With the income, Evelyn will get money to buy some new clothes for her children. She will also save some money to pay school fees for the children's next academic year.
Evelyn's main challenges are price fluctuations and stiff competition in the market since she trades in an area where plantain-growing is a major economic activity. She is excited that she will make a big profit this season and thanks UGAFODE Microfinance Limited for partnering with her and coming to her aid in such a period when she needs money the most. Evelyn is very hard-working.
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