Susan is requesting a loan of 1.1 million USH. She will use this loan to pay an installment on her rent. Each month Susan must pay 700,000 USH in rent on her shop. She will also purchase some stock for her store. With her loan she will be able to buy 5 dozen dresses, 2 dozen trousers, and 2 dozen tops.
Susan dreams of some day being able to sell 10 dozen items per day. She says that if she is able to do this it will help her achieve her dream of buying a house and a car.
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