Rehana is a housewife who stays at her home and does her household responsibilities. She also helps her husband in his business by preparing sweets for his shop. She is a very caring mother and raises her children very well. She has given birth to eight children. Only two of them are able to attend school due to poor financial conditions.
Rehana has applied for a loan from Kiva partner Asasah for the further expansion of her husband’s business. With the loan, he will buy the required ingredients such as milk, sugar and dried fruits to make better quality sweetmeat for his customers and to increase his profits. He has been operating his business for the past eight years and has good experience in his business. Rehana hopes that an investment will be more productive for him and increase his income. She is a new loan applicant of Asasah.
Note: In the photo, the lady raising her hand is Rehana.
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