Zeba Gull works in her bakery from 6:00 a.m. to 5:00 p.m. and bakes bread for her neighbors that live in the same area as she does.
With the Kiva loan, she wants to purchase flour and firewood for her bakery and would like to expand her business. She hopes to make her business large and to have a shop instead of working in her home.
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