Bushra Bibi's Group
Bushra Bibi wants to expand her business because she thinks that there is a lot of potential for making good income from the business. She has applied for a loan to buy materials such as glass, beads and plastic, which she will use to make bangles in larger quantities to fulfill larger orders. Her daughter is nearly of wedding age so she wants some extra income to collect the dowry for her daughter’s marriage.
Note: Bushra Bibi's group member, Nabila, is showing her embroidered clothes in this picture.
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