Hanifaan is the mother of a son who is also involved in the fruit selling business. Her son sells fruits at his shop, which he has on rent. It is located in the market. He also contributes to the family income from his fruit business.
Hanifaan has applied for a loan from Kiva partner, Asasah, for her husband’s business. With the loan her husband will buy seasonal fruits and increase his sales. She is hopeful that her husband will successfully be able to improve his business by making this investment. She is a regular loan user of Asasah and this is her 2nd loan application. In the previous loan year she has paid her installments on time and never missed any meetings.
Note: “In the photo, the lady who has holds a book (called Asasah Passbook) in her hand is Hanifan”.
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