Sughran has applied for a loan from Kiva partner Asasah for the expansion of her son’s business. With the loan, he will buy different herbs to make better quality herbal medicines to treat his patients in a far better way. He has been operating this business for many years and Sughran is confident that her son’s business will improve further after the loan investment, and her family will be able to live a better life as a result.
She is a new loan user and this is her first loan application to Asasah. She hopes that it will bring good improvements to her son’s business.
Note: In the photo, the lady raising her hand is Sughran.
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