Her husband's name is M. H., and he runs a grocery shop in the nearby market. His shop is a popular one in the area due to his excellent products and quality services.
Bashiran is a seamstress. She sews clothes for her neighbors/clients. She has been running this business for the last seven years and is very popular among her clients due to the quality of her work and the timely delivery of her finished goods. Both Bashiran and M. H. use their incomes for household expenses. They are also able to save money for rainy days.
Bashiran has applied for a loan for her husband’s business. With the loan amount he will buy groceries such as cooking oil, spices, lentils, and candies for his grocery shop.
Bashiran is hopeful that this investment will be a good one for her husband’s business and that he will be able to increase his income.
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