Zahida has given birth to three girls and one boy. Her eldest daughter is 20 years old and she completed her education till 10th standard. The other two are enrolled in a school and are getting an education. Her son has a food stand in the market where he sells specifically “Dahi Bhalay” which is in high demand.
Zahida herself runs a beauty salon. She reserves one room of her house for it. Her eldest daughter also helps her to take care of the customers. She saves her income for her daughters’ marriage.
Zahida is applying for a loan to buy items (yogurt, potatoes, and cooking oil) to expand her son's food 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