Rani is a caring lady, who prefers to stay at home and manage the household chores. She has a very good nature and loves keeping flowers at home. She enjoys taking care of them. She is the mother of 2 sons. Her eldest son is a tailor by profession while the second one is studying in class 9.
Rani has applied for a loan from Kiva partner Asasah for the improvement of her husband’s business. With the loan, he will buy iron to make more iron boxes for selling. Rani is hopeful that the loan investment will help her husband to improve his business and also for her family to enjoy a better life. She is a regular loan user of Asasah and this is her 4th loan application. In previous loan years, she has maintained a good credit behavior and never missed any meetings.
This is a group loan. While each member of the group receives an individual loan, they are all collectively responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.
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