Zubaida's husband sells fruit from a cart. He believes in providing fresh quality fruit to his customers at good prices – that’s why he sells well and makes good profit. Zubaida is a very supportive wife who is always ready to help her husband in difficult times. She has applied for a loan from Kiva's partner, Asasah, because her husband wants to buy some more fresh fruit to sell. He has been operating his business for the past 20 years and Zubaida hopes that an investment will be productive for him and increase his profits.
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