Kishwar is a very caring lady who stays at home, manages the household chores, and prepares food for her family. Her husband is a vegetable vendor. He purchases vegetables in bulk from the vegetable market and sells them in various places in the community and also to vegetable shops to earn a profit. Kishwar is applying for a loan from Kiva partner, Asasah, to invest the capital in her husband’s business so he can purchase seasonal vegetables in bulk and expand his business. They hope to earn profit from this loan so that they can open their own vegetable shop and have their own customers.
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