Khursheed is the mother of three children. Both of her sons work in a dispensary while her daughter is studying.
She has applied for a loan from Kiva partner Asasah for the expansion of their grocery store business. With the loan, they will buy groceries in bulk for their store which will allow them to fulfill the customers' needs on time and increase their profits.
She and her husband have been operating this business for the past nine years and hope that their family business will grow better after investing the loan into it. She is a regular loan user of Asasah and this is her 2nd loan application. In the previous loan year, she established a good credit behavior and never missed any meeting.
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