She is grateful for her loans since they help increase her capital and hence, her profitability. Alice has a dream of becoming a wholesale supplier of shop products so that she could be able to educate her children to the last level. She is a mother of six children ranging in age from 3 to 17 years and she takes care of other orphans.
Alice needs a loan to help add more capital into her business since this ensures a steady running of the business and payment of school fees on time.
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