Her husband’s name is M. S., and he manufactures furniture to order. His furniture showroom is located in the market, and he has a good number of clients who give him good orders of furniture. Zahida has applied for a loan from Kiva partner, Asasah, to further expand her husband’s business. With the loan, he will buy wood, nails and furniture polisher, etc., which will help him produce good quality furniture. He will display it in his show room for selling. He has been in this business for the past 10 years, and Zahida is hopeful that, after the loan investment, his business will improve further and so will the living standard of the family as well.
This is her 2nd loan application from Asasah. In the previous loan year, she established a good credit behavior and never missed any 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