Jyparkul is one of oldest and wisest women in the neighborhood and is well experienced in the local mode of life including cattle breeding. Through the past thirty years she has built a big household of her own and shared her successful techniques with the younger generation.
With the help of her five grown children, she manages her livestock and sends it to the highland pastures for the summer in order for them to grow and breed. Thankfully, the reselling of cattle generates a rather steady income.
Now that the summer is halfway through, Jyparkul would like to be able to send more cattle to pasture. She hopes to get a loan from Mol Bulak Finance in order to purchase more calves.
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