Allah Wahid Trust Bank Group
Alimatu has been a retail seller of undergarments for the past 7 years. She will use the loan to buy more undergarments like panties, singlets, and boxer shorts as well as skirts and tops. She hopes to eventually expand her business and supply more items to her customers.
Alimatu is currently the leader of the trust bank group called “Allah Wahid" in Arabic. There are 13 members in this group. The other group members also operate retail businesses selling items such as foodstuffs, second-hand clothes, and honey. They plan to use the loan to buy inventory to grow their businesses and to enable them to take care of their respective families.
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