Manzooran and her family are very simple persons. They spend their life with simplicity. They have a dairy business. They get milk from their cows and sell it to the milk shops and in the neighborhood.
Manzooran has applied for a loan from Asasah for the dairy business. With the loan amount they will buy another dairy cow and expand their dairy 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