Sumaira has given birth to four children. Two of them are enrolled in a local school for their education, while the other two are too young and are not of school-going age yet. Her husband is a barber by profession and operates a barber shop. He provides hair cutting and facial services to his clients at good prices.
Sumaira has applied for a loan from Kiva's partner, Asasah, for her husband’s business. With the loan, he will buy items such as scissors, face products (creams, masks) and mirrors, etc., for the improvement of his business. He has been doing his business for the past seven years and Sumaira hopes that an investment will help him make his business more profitable.
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