Sardaran has applied for a loan from Kiva's partner, Asasah, for her son who wants to buy a rickshaw which will help him provide better transport services to his customers without any time restriction. He will be able to keep the whole earnings from his work without giving to the rickshaw owner. He has been attached to this profession for the past four years, and Sardaran is confident that a new rickshaw will help him improve his profits.
In the photo, the lady with a book (an Asasah passbook) is Sardaran.
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.
179View loans »
Success!! The loan was 100% repaid