She has applied for a loan from Kiva partner Asasah for her second son. With the loan, he will buy a new body for his rickshaw and do some repair works so it works smoothly and attracts many passengers to get service from him due to his well-conditioned rickshaw.
He has been operating his transport business for the past eight years and Yasmeen is hopeful that after the loan investment, his business will grow better and his income will increase. Yasmeen is a regular loan user of Asasah and this is her second loan application. In her previous loan year, she paid her installments on time and never missed any meeting.
Note: In the photo, the lady raising her hand is Yasmeen.
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