Hameeda has applied for a loan from Kiva's partner, Asasah, for her husband’s dairy business. With this loan, he will buy another buffalo which will increase his production of milk and increase his sales. She is a regular client of Asasah and this is her second loan application. In her previous loan year, she paid her installments on time and never missed a single meeting.
In the photo, the lady with a book (an Asasah passbook) is Hameeda.
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