Naseem Akhtar's Group
Now the two of them have decided to start another business because M. H. always has had a wish to buy his own vehicle, but due to having no capital he developed an interest in the tailoring business. Naseem has requested a loan of Pak Rs. 15000 which will be a great help to buy an auto-rickshaw (a local three-wheeled motor vehicle).
Note: Naseem akhtar baji is seated second from the left with her sewing machine and the other women are seated around her, showing clothes she made.
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