Her husband has an animal-selling business. His business grows busier during the Muslim festival of Eid-ul-Azha because people purchase animals to slaughter. At other times he sells animals to butchers. Salma has applied for a loan from Kiva partner Asasah for her husband who will buy some goats & sheep to further improve his animal-sales business. He has been operating this business for the past 10 years and Salma is confident that her husband will be able to 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 record and never missed any meeting.
Note: In the photo, the lady with a book (called Asasah Passbook) is Salma.
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