Khalida herself is a housewife as well as a businesswoman. Along with her household work, she sells bangles to her community ladies and for babies. Her collection of bangles is famous among her clients. Her income allows her to share the financial burden with her husband.
Her husband is involved in fruit selling as well as a grocery store business. He sells fruit primarily and secondly, he gives time to his grocery store. Both of his businesses gives him good profits but now he wants to invest money in his grocery store business for its further expansion.
Therefore, Khalida has applied for a loan from Kiva partner Asasah for his grocery store business. With the loan, he will buy groceries in bulk to put in his store for selling.
Khalida is hopeful that her husband’s business will expand further after the loan investment.
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