Sughran and her husband have three sons. The oldest makes a living selling milk and yogurt from a shop in the local market and the other two are still in school. She has applied for a loan which her husband will use to buy fresh seasonal fruits in bulk from wholesale markets. She believes that this loan will help her husband earn more money and operate his business more efficiently.
For the last nine years, Sughran and her family have lived in a two-room brick house in a small city named Khanewal. She is a member of Asasah and this is her third loan request. She paid her previous loans on time.
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