Irshad has applied for a loan from Asasah for her husband to improve the condition of his business. With the loan amount, he will buy another motorbike to rent to expand his business. He has been running this business for the last 20 years and Irshad believes that her husband can increase his income with the help of a loan investment. She is in her fourth loan cycle and is a responsible loan user of Asasah. In her past loan experiences, she maintained a good credit record and never missed a meeting.
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.
188View loans »
Success!! The loan was 100% repaid