Yasmeen Akhtar's Group
Both of her children are getting an education. Yasmeen akhtar wants them to finish their education for which she works very hard. She makes and sells artificial flowers to pay their school fees.
Yasmeen’s husband wants to buy more timber for his shop because he has received big order to fill. She has applied for a loan from Asasah for that purpose. She hopes that fulfillment of this order will bring good profit to her husband.
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