After her divorce Begimai was in despair with thoughts of providing her daughter with everything she needed. Her father’s advice and support helped her to gather herself and start her business of selling vegetables at wholesale. For almost a year Begimai has been involved in transporting them from Uzgen to the nearby town of Kara Kulja.
With a monthly income of 2,000 KGS she has managed to purchase a small piece of land and an automobile. Her 54,000 KGS loan will be used to purchase more fruits and vegetables to sell.
One of Begimai’s long-term goals and wishes is to construct a house on her land.
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