Zaib has applied for a loan from Kiva's partner, Asasah, to further improve her business. With this loan, she will purchase clothes and embroidery materials such as beads and colored thread to fulfill the orders of her customers on time and to increase her income. She has been in this business for the past five years and is very sure that an investment will definitely be helpful to her in improving her business.
Zaib is a regular loan user of Asasah and this is her second loan application. She has built a good credit record in the previous loan year and never missed any meeting. In the photo, the lady with a book (an Asasah passbook) is Zaib.
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