Kubra’s husband S. M. is in the animal selling business. He purchases young cows and goats, raises them, and sells them for a good profit. He has loyal customers because of his deep knowledge of animal breeding which was passed on from his father who was also in the same trade. He has been in this field for over ten years.
Kubra has applied for a loan from Asasah for her husband so he can buy more cows and goats to sell. Kubra is hopeful that this investment will prove beneficial for her husband and he will be able to do very well with 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