In order to support her family, she sells milk for a living. She has a small shop adjacent to her home from which she operates the business. She has contracts with different milk suppliers, who come from nearby areas to provide her with milk.
She is now applying for a loan from a Kiva partner, Asasah, for her milk-selling business. With the loan proceeds, she would like to buy milk in larger quantities, which would enable her to increase her sales and income. She has been operating the business for 3 years, and she is confident about its future growth potential. This is her first loan application through Asasah, and she is hopeful that it will be a profitable experience.
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