He now wants to introduce another Punjabi dish called “Biryani” (rice with meat, egg or vegetables and spices), which is also popular with the people of Lahore. Therefore, Razia has applied for a loan from Asasah for her husband’s food stall. With the loan, he will buy items such as “rice, spices, cooking oil and other necessary items” in bulk and will introduce a Biryani dish to his customers. She hopes that her husband will be able to achieve his plan and increase his monthly income.
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