Baby is a seam-stress. She sews clothes by taking orders in her areas. She is good at her art and receives regular orders. Her earning allows her to pay for the utilities expenses of her family.
She has applied for a loan from Kiva partner, Asasah for her husband’s business. With the loan her husband will buy seasonal fruits in bulk quantity for his fruit selling business. Baby is hopeful that by investing the loan amount in her husband’s business, his business will be improved and his income will be increased.
She is a new loan applicant and this is her first loan application. Note: “In the picture, the lady who is raising her hand is Baby”.
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