Razia has applied for a loan from Kiva partner, Asasah, for the expansion of her clothes sales business. With the loan, she will purchase clothes of different varieties in bulk in order to provide a better clothing choice to her customers. She hopes that the loan will prove to be a profitable investment for her business. She is a regular loan user of Asasah and this is her second loan application. In her previous loan year, she established good credit behavior and never missed a meeting.
Note: In the photo, the lady raising her hand is Razia.
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