The second member, Karima, would like to take the loan for her husband’s general store. The loan will be used to buy items that are not currently available in his shop, but are in demand in the market.
The last member, Masooda, would like to take the loan for her brother who has a Bolani (a kind of Afghani dish) selling cart. With the loan she would like to purchase more oil and flour ingredients to attract more clients and to add to his monthly income as well.
They have requested a group loan, together, of 30000 Afghani.
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