My name is Basheeran Q.. I am married and a mother of two boys, both of whom attend kindergarten. I want one of my sons to be a doctor and the other one to join the police. I live with my family in Borewala, a small city in Pakistan. My husband runs a TV cable business and also owns floor grinding machines which he rents out to supplement his income. Currently, he owns two grinding machines and now he wants to buy an additional one, for which we require a loan. My group members are my neighbors and very honest in their dealings. Now, I introduce them to you: Basheeran B. needs a loan to expand her business and manufacture furniture; Basheeran F. requires a loan for her husband to repair his barber shop and also buy other items; and Khalida B. needs this loan to expand her business of manufacturing a local type of sweet known as Murunda.
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.