Her husband works as a supervisor in a private company for a reasonable income. She has applied for a loan from Asasah to expand her business. With the loan amount, she plans to buy blankets in bulk and work full-time on this business. She is a very active and enthusiastic lady. She is confident that she will be able to expand her business and improve her financial condition by investing money in her business. She is in her fifth loan cycle and has found to be a responsible loan user of Asasah.
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