Her husband operates an agriculture business. He has a small piece of land where he grows different seasonal crops. He is very active and works very hard to afford the living expenses of his family.
Naseem has applied for a loan from Kiva partner Asasah to further improve her husband’s business by purchasing seeds, fertilizers and pesticides etc. in larger quantity. Her husband has been operating this business for the past six years and Naseem is very hopeful that an investment will improve the financial condition of his business.
She is a regular loan user of Asasah and this is her 3rd loan application. In previous loan years, she has maintained a good credit behavior and never missed any 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