Rani is a caring lady who stays at home and carries out her responsibilities as a housewife very well. She has applied for a loan from Kiva partner Asasah for her husband who wants to buy iron to be able to make a larger quantity of brushes to sell and increase his profits. He is very experienced in his business and has been operating for almost 10 years. Rani is very much hopeful that this investment will be a profitable one for him.
She is a regular loan user of Asasah and this is her 3rd loan application. In previous loan years, she has maintained a good credit behavior and never missed any meeting.
Note: In the photo, the lady slightly raising her hand 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