Her husband works on the Pakistan railway on a monthly income. Mariam doesn’t have any children and she spends most of her time looking after her business.
She has applied for a loan from Kiva partner Asasah for the further expansion of her grocery store business. With the loan, she will buy groceries in bulk that will allow her to fulfill the timely demands of her clients and increase her profits. She has been operating her business for many years and hopes that an investment will bring more profits and improve her business conditions.
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