She has applied for a loan from Kiva partner Asasah to help her nephew who operates a mobile shop in the market. Through his shop, he sells new and used mobile phones as well as mobile accessories at reasonable rates.
He is very good in his customer dealings and earns a reasonable income every month. With this loan, he will buy mobile phones and accessories to put in his shop.
Naseem is very hopeful that after the loan investment her nephew's income will be increased and it will help him have a better standard of living.
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