Sarah has a retail shop in Salama that she has been running for some time now. She is happy that, through using loans, she is able to make considerable profits through the increased stock. She has been successful because she is able to treat her customers well.
In future, Sarah wishes for the shop to expand more so that paying her children’s school fees is no trouble. She needs a loan to be able to boost her business so that she can make more profits from it.
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