Her husband is a fruit vendor who sells fruit at the market. He supplements his income as a daily-wage laborer, taking on jobs whenever they are available. Nazia has applied for a loan from Kiva partner Asasah to improve her husband’s business. With the loan, he will buy fresh seasonal fruits to offer for sale, which will increase his income and sales.
Nazia is hopeful that her husband’s business will grow further through the investment of this loan. She feels that it will result in a higher standard of living for her family. She is a regular loan user of Asasah and this is her fourth loan application. She has proved herself as a responsible client who has always paid her installments on time 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