Sugran is a vigorous lady. She runs her own sewing business. She learnt the sewing skills from her mother. She has been managing this business for more than 15 years. Now she has become an expert and can sew designer and non-designer dresses very easily. She does this work to cover the expenses of her family.
Sugran is applying for a loan to buy wheat to expand her husband’s wheat-selling business. She has five other ladies in her loan group. Khursheedan and Hanifan and Sakina each want a loan to buy timber for their timber-selling businesses. Meena wants a loan to buy groceries for her grocery shop. Zahida parveen wants a loan to buy fruit for her fruit-selling business.
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