Rozia is the group leader. She has a beauty salon and is busy working there in order to support her husband and five of her children who are students. Using the loan she plans to purchase more new design cosmetics for her beauty salon to expand it and attract more clients.
Maleha wants to use her loan to buy the materials for carpet weaving so she can have more good quality ones. She buys one kilo of her materials for 1500 Afghani.
Sohila tailors in her house. She has arranged a small room where she sews different kinds of clothes and has a good number of clients. Using the loan she wants to buy an electric sewing machine because she has lots of problems using her old one.
The last member, Latifa, wants a loan for her husband’s general store because he needs to buy the things which are not available in his shop.
They all have requested a group loan of 56000 Afghani.
They would like to mention the effectiveness of the Kiva process and its positive effect on their business progress.
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