Rani is a caring person by nature. She carries out her responsibilities as a housewife very well. Besides her household work, she also visits her husband’s store to help him in serving his customers.
She has applied for a loan from Kiva partner Asasah for her husband’s business. Through the loan, he will buy groceries in bulk to put to his store for sale. Rani hopes that the loan investment will bring positive financial changes to her husband’s business and improve his profits.
Note: In the photo, the lady with a book (called Asasah Passbook) is Rani.
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