Her husband is involved in selling animals. He buys animals from the animal markets at cheap rates. Then he fattens them up and makes them ready for re-selling. In this way, he generates good income for the family. Above all, he has obtained a good reputation among his customers. They call him when they want to purchase animals because he has a good knowledge of animal breeds and make good deals for them.
Azra has applied for a loan for her husband’s business. With the loan, he will buy goats and expand his business. Azra is hopeful that this investment will prove beneficial for him and this will help him to grow his business on a large scale by selling to different animal markets & to animal sellers.
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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