Flavia is grateful for her loans because she has been able to pay school fees for her four children singlehandedly after the death of her husband, and now they are out of school and operating their own businesses. She currently cares for three orphans attending school, all the children of her late sister but abandoned by their father upon his remarriage.
Thanks to previous loans received, Flavia was able to build her own house, but she is now requesting another loan to buy windows and doors for her house to replace the polythene paper coverings; the balance of the loan will be used to reinvest in her business.
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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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Success!! The loan was 100% repaid