Sawa Yakola Development Group
Florence is requesting a loan, which she will use to purchase knitting wool. Her major challenge is the lack of electrical sewing and knitting machines, which would enable her make more sweaters faster and neater .She hopes to buy these machines in the future if more funding is made available. Her dream is to open up a knitting school in the future.
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