Tahira has applied for a loan from Kiva's partner, Asasah, for her husband’s business. With this loan, he will buy raw materials such as leather, shoe laces, nails and glue for making shoes in larger quantity and fulfilling his orders. He has been operating this business for the past six years, and Tahira is hopeful that an investment will be productive for his business and earn him better profits.
Tahira is a new loan user of Asasah and this is her first loan application. She is confident about her family’s better financial future.
In the photo, the lady with a book (an Asasah passbook) is Tahira.
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