Salma is a housewife who stays at home and does her household work. She is the mother of 5 children, all of whom are enrolled in school and getting their education. Salma has applied for a loan from Kiva's partner Asasah to financially assist her husband in his food stall business. With the loan, he will buy chick peas, cooking oil, flour, spices, etc. in bulk to help him make large quantities of food to sell. He has been operating this business for over 6 years and Salma is confident that he will be able to improve his business with the help of a loan investment. Salma is a regular lender with Asasah and this is her 3rd loan application. In previous loan years, she maintained good credit behavior and never missed a 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