Her husband runs a grocery shop in the nearby market. He has been in this business for over three years. Earlier, his shop was the only shop who dealt with groceries, but now he is facing two more grocery shops in front of him, which can affect his selling. That’s why Razia has applied for a loan from Asasah, so her husband put the groceries in his shop and able to fulfill the demands of his customers on their asking.
Razia owns a small house of two rooms and is living in it with her family. She is a caring lady and carries out her responsibilities of a housewife effectively. She is hopeful that this investment will bring the positive change to her husband’s business and he will be able to better manage the clientele base.
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