She has applied for a loan from Kiva partner Asasah for her younger son who wants to buy some ingredients like cooking oil, bread, chicken meat and spices etc for his burger joint. He started this business four years ago and Wazeeran is very hopeful that the loan will help him in further establishing his business. She has a plan to marry her eldest son who is now 24 years old and she is confident that she will be able to do that with the help of an improved financial conditions. She is a regular loan user of Asasah and this is her fifth loan application. She is a responsible loan user who always paid her installments on time and never missed a single 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