K. is very supportive – she knows that her husband alone is unable to meet the financial needs of the family. That’s why she operates a milk sales business. She keeps a buffalo at her home for this purpose. She milks it every day and sells the milk to her customers in her community for a profit. She also carries out her responsibilities as a housewife very well.
K. has applied for a loan from Kiva partner, Asasah, for the expansion of her brother-in-law’s tailoring business. With the loan, he will buy a new sewing machine, which will help him fulfill orders on time and increase his profits. She is expecting that after the loan investment, her brother-in-law’s business will be improved and her family’s income will be increased, which will help them achieve a better standard of living. K. 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 K..
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