That’s why Nazia has applied for a loan from Kiva partner, Asasah, for her husband’s business. With the loan amount, her husband will buy seasonal fruit in bulk quantity and improve his sales. He has a plan to start a fruit shop in the market where he can display a variety of fruits to people and improve his client base. He is hopeful that he will be able to do so with the loan profit.
Nazia is also hopeful that her husband will make good use of this money and successfully achieve his plan for the future. She is a new loan user of Asasah and this is her 1st loan application. She hopes it will be a profitable experience for her.
Note: In the picture, the lady who is raising her hand is Nazia.
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