Nanci Yousaf's Group
Nanci is satisfied now that her sons are settled and operating their business. She has applied for a loan from Kiva's partner, Asasah, for her sons’ business. With the loan amount, her sons will buy sanitation supplies such as taps, water pipes, etc. to increase their sales. She is hopeful that her sons' business will improve and her family will have a better standard of living.
She wants her eldest son to marry and she hopes that she will be able to help him do it very soon with the help of profit from the loan. She is a new loan applicant and hopes that it will be a profitable experience for her family.
Note: In the photo, Nanci 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