Manzooran Muhammad Saleem's Group
Manzooran’s husband operates a CD center in the market from which he sells different DVDs and CDs of movies and songs. He deals with a good number of customers every day. Some of the customers buy CDs and DVDs while others rent them.
Manzooran has applied for a loan from Kiva’s partner Asasah. She is a new Asasah client, and this is her first loan application. She is requesting a loan for the expansion of her husband’s business. He will use the money to purchase the latest CDs and DVDs to sell to his customers. He started this business six years ago, and Manzooran hopes that a loan will improve his business further.
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