Bilqees has applied for a loan from Kiva's partner, Asasah, for her elder son’s business. With the loan, he will buy scrap such as plastic bottles, iron, used paper, etc., in bulk to meet the demands of his customers and make extra income. Bilqees is hopeful that her son’s 6 years of experience will help him establish his business with the loan investment, and she will be able to marry her daughter (who is now 18 years old) with the help of the increased profits.
Bilqees is a new loan applicant of Asasah. In the photo, the lady with a raised hand is Bilqees.
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