Safia is the mother of two sons and a daughter. Her elder son is a graduate and does a job in a private organization while the others are studying.
Safia has applied for a loan from Kiva partner Asasah for the expansion of her husband ‘s clothes-selling business. He will use the loan money in purchasing clothes in bulk which will allow him to offer more variety to his clients for greater profits.
Safia is a regular loan user of Asasah and this is her 2nd loan application. She has established a good credit behavior in the previous loan year and never missed any meeting. She is hopeful that an investment will be a productive one for her husband.
Note: In the photo, the lady raising a hand is Safia.
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