Bushra and her husband both work as embroiderers and operate their business from their home. They are very good at their work and receive regular orders every month.
She also carries out her responsibilities as a housewife very well.
She has applied for a loan from Kiva partner Asasah to grow her family business. With the loan, they will buy embroidery material in bulk to be able to fulfill the orders of their clients and increase their profits.
They have been running this business for past 10 years and have a good base of clientele. She hopes that an investment will be a profitable one for their business and increase their income.
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