A very caring and talented lady, Nazia manages the domestic chores and prepares food for her family, then she goes to the grocery shop of her husband and helps him by dealing with the customers. They are in this way helping each other in order to generate good income.
They have four children, three sons and one daughter. All of them are enrolled in school except the younger son, who is not of school-going age yet.
Nazia is applying for a loan from Asasah, a Kiva partner, to invest the capital in their grocery shop so they can purchase groceries in bulk, maintain their customers and generate a good profit.
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