Her husband sells fruits on a four wheeled-cart in different streets of Pakpattan, where Khursheed bibi has lived all through her life. Her husband wants to buy some seasonal fruits to continue the cycle of his living. For this purpose, Khursheed has applied for a loan for the fourth time from Asasah. She hopes that the investment will prove successful for her husband’s business and he will be able to enhance his business and generate a good profit on it.
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