Ashran operates a dairy business from her home. She keeps a buffalo and sells its milk to her neighboring clients in order to contribute financially to her family. She has applied for a loan from Kiva partner Asasah for her brother. Her brother will invest the loan money in his fertilizer and seed selling business by buying these items in bulk. Ashran is very dedicated to her brother and wishes for him that he grows his business and becomes successful in his future. This is her first loan from Asasah.
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