Gul Aziz would like to take a loan for his shop so that he can expand his business. He has four children who are in school. Nafesa wants to take a loan for her tailoring business. She wants to buy some necessary materials for her business. Najeba wants to take a loan for her husband’s dish-selling shop. He wants to purchase more glasses, plates and so on for his business.
The group has requested a group loan of 42,000 AFN. With this loan they can expand their businesses, support their families, and make a better future for themselves.
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