Maqsooda is a very talented lady. She not only manages the household chores but also handles her business of making artificial flowers for sale. She does this work to generate income for her family.
She has eight children: seven sons and a daughter. Four of them couldn’t get an education and they had to work to financially support the family, but Maqsooda has managed to provide education facilities for her younger children.
Maqsooda has applied for a loan for the fifth time from Asasah. With this loan, she will buy another buffalo to expand her husband’s milk selling 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