My husband is a daily wage laborer and I embroider clothes on order. I also sell cloth to neighborhood customers. Now, I need to buy cloth in bulk for my business, for which purpose I require a loan.
The other women in my group who also need of a loan are:
Shakila B. who needs a loan for their construction business;
Rasheeda B. whose husband is an electrician and needs a loan to expand his business;
Farzana B. who needs a loan for her fruit business; and
Safia B. who requires a loan to manufacture a traditional type of hair bands.
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