Her husband is a private entrepreneur and makes beautiful colored jewelry boxes. He makes the boxes from wood and glass, which give an attractive look to his work. His clientele are jewelry sellers. He is very skillful in his art and receives regular orders every month. Timely delivery of products is the key to a successful business and her husband follows this.
Farzana has applied for a loan from Kiva partner Asasah for her husband’s business. With the loan, he will buy glass and wood in larger quantities, which will help him to make more jewelry boxes to fulfill the orders of his customers.
Farzana is hopeful that her husband will successfully be able to improve his business with the help of a loan investment.
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