She is a responsible lady. She manages her family and her house very efficiently. She is fond of cooking. Her specialty in cooking is “Chicken Biryani” and “Kababs”. Her family admires her a lot when she cooks these two dishes.
She has given birth to five children: two sons and three daughters. Her kids are older than 15. Her sons work in a factory on a monthly wage. Her daughters help her with her domestic chores. Her husband's name is A. M.. He is a tailor by profession and runs his own tailoring shop in the market. His stitching is limited to gents wear. He has a good number of customers. He has been operating this business for over five years. His earnings allow him to meet his financial expenses. Now they are planning to purchase an electric sewing machine, which will help him to complete more orders on time. To purchase it they require a loan.
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