My husband has a scrap business. He is in this business for past ten years. Now he is in the process of expanding his business for which he requires a loan. My group members who need loans are: Sakina I. needs loan to buy a stitching machine, Inayat P. she will invest loan in their vegetables business, Sakina B. needs a loan to invest in her son’s food stall.
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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