Her husband runs a grocery shop in the market which used to do well but these days, being the only grocery shop in the community, he has to put the maximum amount of groceries in it to enable him to meet the demand of his customers.
Therefore, Sharifan has applied for a loan from Asasah for her husband. With the loan amount he will buy more groceries for his grocery shop. By putting more groceries into his shop he will be able to meet the demand of his customers which will help him to increase the clientele base and the profit as well.
She is a regular client of Asasah. She has successfully completed two loans with Asasah and now has applied for a third loan. With the previous loans she has maintained good credit and never missed any single meeting. She hopes that her loan experience this time will be a good one too.
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