Fahema and Maleha want to take a loan for their business of wholesale food to make their business larger. Mazhda and Makhfya want to take a loan for their business of tailoring. They want to buy a new machine for their business. M. Nasrat wants to take a loan for his business, a video shop. He wants to buy necessary materials for his business.
They are confident that with the money they receive they can have a good profit and can run their businesses in a good way. They are all happy about the loan process and want to say that it can support the entrepreneurs a lot.
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