Her son has studied till 5th standard but couldn’t study further due to financial constraints. He is a very hardworking child. He has started helping his parents in their milk-selling business at a very early age. Now he fully supports them with getting milk from the buffalo. He is now twenty-one years old. He also helps them in taking care of the business. Presently, they have three buffaloes and he takes care of them to make sure they are giving high quality and good quantity milk.
Ameeran's home is medium-sized and she has fixed up a small area for the cattle. She has applied for a loan for the first time from Asasah for her son. With the loan amount he will buy another buffalo and start his own milk-selling business. His mother is hopeful that he will be able to improve the family business by generating good income from 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