Nusrat supports her family by doing stitching and embroidery work. She has a good number of clients in her neighborhood and she receives a good number of orders every month. She has applied for a loan from Kiva's partner, Asasah, for her business of stitching clothes. She will invest the loan in purchasing a new stitching machine that will help her finishing her orders on time and to work more efficiently. She is a new loan applicant of Asasah and hopes the loan will bring good profits to her by improving her business.
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