Her husband is a loader by profession and operates a loading/unloading business. He provides his services from his donkey cart and delivers the goods to the designated places.
She has applied for a loan from Kiva partner Asasah for her husband to buy a new cart because his current cart has become rough and needs to be replaced. He is the only earning person in the family and it is necessary that his business become established. He has been operating this business for the past four years and Nazeeran is hopeful that after the loan, it will start bringing him better profits.
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