M. Teddy, 49, is the leader of her group and has various businesses such as having banana, beans and maize plantations, buying and selling coffee, and buying and selling small fish from her neighboring landing sites. Teddy is married with 8 children and she looks after 4 grandchildren. All her children are currently out of school, except one who is soon joining university, but she also pays school fees for her 4 grandchildren whose parents died of AIDS.
She is grateful for the loans because as a result of investing more into her businesses, she makes enough profits that help to cater for her family and pay her grandchildren’s school fees, while not forgetting to repay her loans promptly. She needs a loan to help her buy more fish for sale and partly for labor on her farm. In the photo at the front is their credit officer.
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.