Amin and her husband have two sons and two daughters. Her sons are educated through eighth-grade level and are employed. The eldest son is also an electrician, a trade he learned from his father. The other works in a private company and earns a monthly wage. The daughters are enrolled in school and are getting their education.
Amin has applied for a loan from Kiva partner Asasah for husband’s business. With the loan, he will buy the latest repair tools for his electronics and electrical repairs business, which will help him improve his business earnings and work more efficiently.
Amin is a regular loan user of Asasah and this is her second loan application. In the previous loan year, she has built up good credit behavior and has attended every meeting.
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