Faroq and Aymal want to take a loan for their stationery business. They want to buy books and pens for their shop.
Aleya wants to take a loan for her husband’s general store.
K. D. wants to take a loan for his carpentry business. He wants to buy lumber for his business.
And Mahro Jan wants to take a loan for her bakery business. She wants to buy fuel for her bakery.
They are very happy with this loan process in Afghanistan. They want to thank AFSG, Kiva, and all lenders around the world.
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