Latefa and Sorya want to take a loan for their businesses, a general store. They want to expand the business and complete the stock. Sofya wants to take a loan for her carpet weaving business and buy necessary materials for her business. Afghani wants to take a loan for her fruit cart business because she wants to expand and progress the business.
With this loan they can expand their businesses and support their families, become stronger in their businesses and make a better future for themselves and their families. They are really very happy with this loan process in this poor country.
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