Her husband is involved in the bicycle repair business. He also sells bicycle spare parts to buyers who come to him for them. He has been in this trade for many years. He is an expert in his work and has a good reputation among his customers for his good services.
Atia has applied for a loan from Kiva partner Asasah for the improvement of her husband’s business. With the loan, he will buy repair tools and other bicycle spare parts so he can provide better service and increasing his profits.
Atia is hopeful that her husband’s business will grow further after making an investment in it and her family will be able to enjoy a better financial life as a result.
Note: In the photo, the lady with a book (called Asasah Passbook) is Atia.
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