Maryam is requesting a new loan, her third, from BRAC Tanzania to buy more flour and cooking oil, which she will use to make items to sell to her customers. She hopes that through this loan, her profits will increase and she will be able to expand her business.
Maryam M. is 25 years old, married and has three children, ages 7, 4 and 2. She will share this loan with her fellow group member, Maryam O. S., who makes a living selling firewood in Zanzibar.
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