Kisaakya Kimwanyi2 Group
She is our repeat borrower in her second cycle. She borrowed a loan of UGX 300,000 through the group for the purpose of paying tuition for her children. Her business is selling banana peelings, which she collects from neighboring markets and rubbish pits.
Robinah is innovative because she turns waste into income. She is so happy with her business because she uses only small capital and yet earns good profits from it. Her main clients are well wishers and farmers within the city and its outskirts who use the peels to feed their animals or spread in their gardens to fertilize them. She wishes to borrow more loans from Ugafode Microfinance Ltd. so as to buy a plot of land and built a home for her family.
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