Important InformationDue to Sri Lanka’s central bank regulations, there is a chance that you may not receive repayment on this loan for up to 12 months after the repayment has been collected by the field partner. Bank regulations in Sri Lanka stipulate that US Dollars cannot leave the country for 12 months. However, Kiva’s net billing system, under normal circumstances will allow for more timely repayment. For more information, please visit BRAC Sri Lanka’s Field Partner page (accessible on the right side of this page).
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.
About Sri Lanka
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