Suraiya does embroidery work and provides additional services to her customers of sewing clothes as well. She is very good in her work and gets regular orders, but she faces problems fulfilling them most of the time because of her lack of capital to buy material.
Now, Suraiya has decided to obtain a loan to overcome this problem. She will buy embroidery material in bulk which will help her to complete larger orders on time.
Suraiya has a little daughter who is in 9th class. Suraiya wants her daughter to complete her education and also wants to marry her to a very good family. She is hopeful that, by receiving a loan and investing it in her business, she will be able to fulfill her desires.
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