She has applied for a loan from Kiva partner Asasah for her husband who wants to further improve his business. With the loan, he will buy flour, chickpeas, cooking oil, spices, etc to prepare good quality food and to increase his profits. He has been operating this business for the past five years and Sarwar is hopeful that the loan will help him grow his business and make better profits. She is a regular loan user of Asasah and this is her second loan application. She has established a good credit record with her previous loan and attended every 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