Kilibaki Women's Group
Edina has been able to pay school fees for her children's education with the money she earns from her restaurant business. When she started getting loans from Pearl Microfinance, she was able to add a retail shop to her restaurant and open a business keeping cattle. Edina now has 4 cross-bred cows and two calves, which generate a total of 20 litres of milk every day for sale. With the money she earns, she is able to pay her workers who help to feed and milk the cows. With the remaining funds, she and her husband are constructing a residential home.
The group is sitting at Edina's home. Behind is the new house that is being constructed. One of the workers is holding a spade.
Edina needs a loan to help build the inventory in her shop. She would like to buy more cold drinks and cereals to sell.
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