Kaniz is the mother of a son and a daughter. Her son has a cosmetics sales business while her daughter is a student. Kaniz has applied for a loan from Kiva partner, Asasah, for the expansion of her son’s business. With the loan, he will put more cosmetics in his shop, which will help him to offer a greater variety of products to his customers and earn more profits. Her son started this business two years ago. She hopes that his business will improve further after the loan investment.
Kaniz is a regular loan user of Asasah and this is her third loan application. In previous loan years, she has maintained good credit behavior and never missed a meeting.
Note: In the photo, the lady raising her hand is Kaniz.
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