Katooke Saving & Lending Group
She has been operating a retail shop for eight years; she started with capital of 780,000 shillings and now she has capital worth 5,000,000 shillings. She also practices farming to earn additional income. She experiences hardships due to price fluctuation; her dreams are to own a depot of beer and soda, plus educate her children to attain degrees as a minimum qualification.
She is a member of the above mentioned group where members mobilize savings and guarantee each other to get a loan.
Angella intends to use the loan to buy beer, soda, sugar, and rice to sell.
More information about this 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