Sughran has applied for a loan from Kiva partner, Asasah, for her son’s embroidery business. With the loan, her son will buy an embroidery machine, which will help him to complete larger orders on time and to work more efficiently. Sughran is very confident about the growth of her son’s business after this loan investment. She is a regular loan user of Asasah; this is her third loan application. In previous loan years, she has maintained good credit and never missed any meetings.
Note: In the photo, the woman holding a book is Sughran.
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