Musa has a business policy of having customer-friendly prices so that he will be able to sell more. His plan is to turn his business into a tailoring school and improve on the quality of his family life by educating his children and training them in his trade.
Musa needs a loan to be able to buy new materials for the business so as to boost the business more. He is a hard working and friendly man and this has brought him reliable customers.
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