Naddima Nnalongo & Teo Mukasa Abateesa Group
Teo's business, which she has pursued for the past year, is making uniform sweaters for children of two schools. She is a teacher by profession and usually makes the uniforms during her free time and during the holidays. She was able to get a water supply from National Water that she sells to her community, and this has increased her income also.
The loans help her so much with her beneficiaries' school fees. Teo M. says that without the loans she would not have been able to sustain her family on her small teacher's salary. With her share of this loan, she plans to buy more material for making sweaters and to complete paying school fees for her beneficiaries.
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