Firdous is married and has three sons and one daughter. Her elder son sells used handsets. The next son works in a local factory on monthly wage. The third son reads in 3rd standard. Her daughter also shares the same school with her brother and reads in 7th standard.
Her husband operates a juice corner in the market. He has over 15 years of experience in this business. He sells the fresh juice of fresh fruits. He also offers fruit shakes to his customers. His quality and presentation style attract more customers to his juice corner. He offers a small glass of juice with the big one free of cost.
Firdous is applying for a loan for the first time from Asasah. She will invest her loan in her husband’s juice corner so he can buy fresh fruits in bulk and make his clients happier with the quality of his work.
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