Her husband is a fruit vendor who operates a shop in the market. He believes in quality and provides fresh seasonal fruits for his clients to purchase.Talat has applied for a loan from Kiva partner Asasah for her husband, who will invest that money in his business. Through the loan, he will purchase fresh seasonal fruits that will help him attract more customers and make more profit. Talat is hopeful that her husband’s business will be expanded by making positive use of the loan. He has been doing this business for the past 15 years and Talat has full confidence in him.
Note: In the photo, the lady with a book (called Asasah Passbook) is Talat.
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