Shahnaz Syed Riaz's Group
Shahnaz has therefore applied for a loan from Kiva's partner, Asasah, for her husband’s welding business. With the loan amount, her husband will buy a new welding machine and can start doing his work and meet his customers' deadlines. He will not then face financial problems and can successfully continue his work without further difficulties.
Note: In the photo, Shahnaz is the lady who is raising her hand.
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