She is grateful that loans have enabled her and her husband to pay school fees for her children plus two dependents that she helps to care for.
Jane has a boutique that sells ladies clothes. To increase profits, Jane hopes to buy a car in the future to market her products, have her own business premises and to stop renting. She needs a loan to buy more clothes like skirts, blouses, and trousers for sale.
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