Razia’s husband wants to expand his business by buying more electric tools so that both he and her son will be able to serve for more customers. Presently, they both use the same tools resulting in one of them having to wait for the other to be finished with the tools.. Razia is hopeful that they will be able to successfully upgrade their business and improve the family’s financial condition. She is in her second loan cycle and is a responsible loan user of Asasah.
Note: In this photo, Razia is showing one of her dress which she sews by herself.
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