Guddi has applied for a loan from Kiva's partner, Asasah, for her son who wants to start his own business selling milk and yogurt. With the loan, he will buy milk in large quantity which will help him increase his profits and allow him to do business independently. Guddi is hopeful that the loan investment will be a great step towards the growth of her son’s business.
Guddi is a regular user of Asasah and this is her third loan application. In previous years, she has maintained good credit behavior and never missed any meeting. In the photo, the lady with a book (an Asasah passbook) is Guddi.
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