Naw Gull and Norya want a loan for their business of tailoring. They want to buy a new machine for their business. Masoda wants a loan for her business of leather sewing. She wants to buy necessary materials for her business. Gullahlay wants a loan for her husband’s general store. He wants to complete his stock. They are requesting a loan in the amount of 40,000 Afghani.
With this loan they can make their businesses larger and support their families and make a better future for themselves and their families in the future.
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