Nagina’s husband has a business producing shoe buckles. He makes deals with different shoe companies and provides them with buckles on order. Nagina has applied for a loan from Kiva's partner, Asasah, for the expansion of her husband’s business. With the loan, her husband will buy iron in larger quantities to help him produce buckles in bulk and to fulfill customer demands on time.
Nagina wants to marry her eldest son who is now 26 years old. She is hopeful that an increased profit will help her save money for that purpose. Nagina is a regular lender with Asasah and this is her 4th loan application. In previous loan years, she has maintained good credit behavior and never missed a meeting.
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