Nguvu Self-Help Group
Gilbert is a kind and hardworking man. From the profits he is able to feed, clothe, and educate his children. With the assistance of the loan, Gilbert will increase stock for his shop. He is excited to purchase some new items, which he believes will generate more income. Gilbert is beaming with optimism about the busy economic season that runs from September through January in Kenya. His long-term business goal is to open up a wholesale unit in the future.
In addition to his retail shop, Gilbert has diversified into livestock. He owns one dairy cow and ten chickens. Selling the milk and eggs add another stream of income towards his overall profits.
Disclaimer: Due to recent events in Kenya, the security situation in many communities remains unsettled, affecting many local businesses. Lenders to this entrepreneur should be aware that this loan may represent a higher default risk, and should be willing to accept this additional risk in making their loan.
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