Razia has applied for a loan on behalf of her eldest son for his electric work. With the loan amount he will buy the latest repairing tools to provide better electricity repairing facilities for his customers. Razia is hopeful that this investment will prove beneficial for her son and that he will be able to generate a good income from it. She has a plan to marry him off next year so he will become a family man and spends his life happily. She is a regular loan user of Asasah and is in 3rd loan cycle.
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