Her husband is an electrician by profession and provides electricity and electrical tool repairing services to his clients. Being an electrician, he needs to deal with electric current all the time but he is very much an expert and has a lot of experience in his profession.
Sundas has applied for a loan from Kiva partner Asasah for the betterment of her husband’s business. With the loan, he will buy electricity repairing tools and a drill that will allow him to perform his work better and provide better repair services to his clients. He has been operating this business for the past 20 years and Sundas is very hopeful that an investment will bring better profits to her husband by improving 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