Her husband, M. A., has a cycle repair shop in the market. He also provides cycle spare parts to his customers on reasonable rates.
Majeedan is the mother of a son and a daughter but only her son is able to attend school and is studying in 5th grade.
She has applied for a loan from Kiva partner, Asasah for her husband’s business. With the loan, he will buy spare parts and some of the latest repair tools for his cycle repairing shop. He has been doing this business for the past 15 years and Majeedan is confident that her husband will successfully be able to grow his business with the help of this loan investment.
Majeedan is a new loan user and hopes that it will be a profitable experience for her.
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