She has applied for a loan from Kiva partner Asasah for her husband who will use the loan to repair his rickshaw. His engine is creating problems and needs repair work. Otherwise, it will be seized. He has been providing transport services to his passengers for over many years and Nasreen is confident that after repairing his rickshaw, he will be able to provide better transport services to his passengers and will make a positive impact on his business.
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