Abdul Malik's Group
Abdul says he has been successful in business because he sells a variety of clothing, and his plan is to see to it that he can secure a place so that his business is stationed there instead of moving around all the time. He also works so hard so that he can continue to pay school fees for all his children and dependents. He needs a loan to be able to stock his business with more clothes like hijabs (women's head covering) for the season. He is a hard-working man, ready to hit the sky.
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