Irshad Begum's Group
A very talented lady, Irshad operates an embroidery business. She makes embroidered dresses after receiving orders from her neighbors and relatives in order to generate income. She can complete one dress in a day due to her expertise and full dedication in her work.
Irshad has successfully repaid her first loan to Asasah and has now applied for a second loan. She wants to invest the capital in her sons’ business so he can purchase material (flour, chick peas, spices and cooking oil) in bulk and increase the profitability of his food stand.
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