Anees bibi is a housewife but she also works, selling milk. Her business is doing well but most of the time she faces a problem completing her orders due to the fact that she has only one buffalo, which sometimes gives a good amount of milk and sometimes not.
Anees bibi wants to increase her income and for that purpose she has applied for this loan. She will buy another buffalo with the loan to expand her 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