There are four members in my loan group. They are: Sharifan S., who needs a loan to buy wood for their wood selling business; Sughran B., who plans to invest loan in her husband’s cloth business; Shamim A., who requires loan for their auto workshop; Sughran and Shamim, both of whom stitch clothes for their neighborhood clients to support their families.
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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