A very caring and loving lady, Safia operates a cart making (weaving a cart frame with rope) business. Her business provides major support to her family. She fills carts on order and receives income which she uses to pay for the utilities and for the education expenses of her kids.
Her husband is involved in a rice selling business. He purchases the rice sacks from the market and supplies them to the grocery shops and generates income.
Safia has completed two loans from Asasah and now is applying for the third time to invest the capital in her husband’s business so he can purchase the rice sacks and expand his 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