Allah Rakhi's Group
Allah rakhi has applied for a loan from Kiva's partner Asasah for her knitting business. She plans to use the loan to buy yarn for knitting a larger number of sweaters. Winter season has started and the demand for sweaters has become high. She hopes that she will earn good profits this winter. Allah rakhi is a regular lender with Asasah and this is her fifth loan application. In previous loan years, she has maintained good credit behavior and never missed a meeting.
Note: In the photo, Allah rakhi is holding a book (the Asasah Passbook).
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