Her husband is involved in an animal sales business. He buys young animals like goats and cows and raised them for sale. He has been operating this business for many years. He loves his business and by seeing him practice it, Naziran also started helping him by taking care of his cattle. She can now give them timely food and water and clean their stall.
Her husband’s business grows greatly at the Eid (Muslim holiday) when people come to him to buy animals for slaughter. At other times, he sells them to butchers and earns income for the family.
Naziran has applied for a loan from Kiva partner Asasah for the further expansion of her husband’s business. With the loan, he will buy goats for resale. She hopes that the loan investment will be a productive one for him.
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