Her husband is involved in the business of selling construction supplies. She has three sons and two daughters who are all studying except the eldest one who couldn’t start his education but started doing work to support the family. He has a furniture-making business which is going very well but he must invest his profit into it when he gets the large order from his customers.
Therefore, Yasmeen has applied for a loan from Asasah to help her son. With the loan amount, he will buy the required items, such as wood, wood polish and nails in large quantity, and fulfill the orders as well.
This is the second time Yasmeen has applied for a loan from Asasah. She is very much sure that her son will be able to get more profit from his business and also be able to save money.
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