Her husband, M. B., is a daily wage laborer. Safia has a 3-year-old daughter, who has not yet started to attend school. Safia’s uncle also lives with them, and he runs a "cold drink corner" in the market. He offers his customers different cold drinks like Pepsi, Coke and fresh juices. Safia has applied for a loan from Kiva partner Asasah for her uncle’s business. He will utilize the loan money in purchasing cold drinks and juices of different varieties to sell to his customers. He has been in this business for the past 8 years and Safia is hopeful that an investment will be profitable for him and will bring in more profits as a result.
She is a new loan user of Asasah and this is her first loan application.
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