She has applied for a loan from Kiva partner Asasah for the expansion of her brother’s embroidery business. He operates his business from his home and is an expert in his field. Due to his good quality work, he receives regular orders every month.
With the loan, he will buy embroidery materias in bulk quantity which will help him fill his orders on time and increase his profits. He has been doing this business for the past five years and Rabia is confident that after the loan investment, her brother will be able to meet requirements of his customers and increase his profits.
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