Her husband has a business repairing shoes. He operates his business from a bazaar and is well known for his good service. He can repair every type of shoe and make it usable. Although his business requires much struggle, he is a satisfied person.
Margrate has applied for a loan from Kiva partner, Asasah, for the improvement of her husband’s business. He wants to buy leather, thread and scissors, etc., which will help him do his job better and make more income. Margrate is hopeful that the loan investment will make her husband’s business more profitable, which will result in a better standard of living for her family. She is a new loan user of Asasah.
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