Aikan works as a tax inspector, and her monthly salary is 3,100 KES. In order to earn additional money to meet the household’s daily needs, the family breeds cattle.
Aikan applied for this loan because she needs additional funds to buy more cattle for breeding. She wants to save money to start building a new house.
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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