Muniran is the group leader for the above-mentioned ladies. They all reside in a city named Arifwala, in Pakistan. Muniran's husband's name is M. R. and he runs a grocery shop in the community. He has been in this business for over 5 years.
Muniran is a very hard-working lady. She makes thread rolls to order and earns income. She utilizes her income to pay the utilities. She is applying for a loan to buy groceries to diversify her husband’s grocery shop into a store.
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