Najma has applied for a loan from Kiva partner Asasah to buy a new sewing machine which will help her finish orders on time and produce quality work. She is very hopeful that the investment will bring good results for her business and improve her profits. This is her first loan application to Asasah and she hopes it will result in a long-term relationship.
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