Sakina has applied for a loan from Asasah for her elder son. With the loan amount he will buy chicken in bulk because EID Season (Muslims' occasion for celebration, which comes after Ramadan) is near and after Ramadan, the wedding season will be starting and the demand for chicken will be increased. So Sakina is very sure that her son will be able to make good income in these seasons.
Sakina is in her 2nd loan cycle. Earlier she invested loan money in her son’s business of hosiery, which resulted in increase of profits for him. She has proven herself to be a very responsible loan user of Asasah in her first year of loan.
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