Hajiraan is a new loan applicant of Asasah. She is applying for a loan for the benefit of her son, who is a butcher by profession and who runs a butcher shop in the local market to earn a living. From his shop, he sells chicken meat to his customers and thereby earns income for the family. He plans on utilizing the loan proceeds to buy chicken in larger quantities so that he can both satisfy customer demand and generate an increase in his income. He only has 2 years of experience in this business, but due to the quality and freshness of his meat, he has been able to attract a loyal client base in a short period of time. Hajiraan is hopeful that, with the loan proceeds, her son will be able to bring about positive changes to his business and to increase his monthly income.
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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