Shamim is a 42-year-old housewife who prefers to stay at home to manage the household responsibilities. Her husband is involved in an animal sales business. He buys animals from the animal market at cheap rates. He raises them and then sells them to clients. He has been in this business for five years.
Shamim has applied for a loan from Kiva partner Asasah for her husband’s business. With the loan, he will buy goats and raise them to sell at a good profit.
Shamim is hopeful that through this investment her husband’s business will become improved and he will be able to serve many more clients as a result.
Note: In the photo, the lady with a book (called the Asasah Passbook) is Shamim.
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