Her husband is involved in an animal selling business. He purchases the animals from the animal market and sells them to his customers. He also loves to take care of the animals. When the animals are fully grown, he sells them to the animal market and generates income. He has been in this profession for the last ten years.
Shahnaz is applying for a loan from Asasah. She will invest the capital in her husband’s business so that he can purchase the animals (goats) and increase the profit of 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