Summer has come and the demand for ice is very high these days. Mussarat is confident that an investment will help her husband make his business more profitable. Previously he would rent a cart, but now that money which he paid for the cart rental will be added to his income instead. He has been operating this business for the past 10 years.
Mussarat is the mother of three daughters and two sons. All of them are enrolled in a local school and are getting their education.
Mussarat herself is a housewife who stays at home and takes care of her household responsibilities.
She is confident that she will be able to return the loan easily as a result of the improved business conditions of her husband.
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