Her husband operates a video games shop in the market. He offers different arcade games to the children of his community who like his games very much.
Nusrat has applied for a loan from Kiva partner Asasah for her clothes-sewing business. With the loan, she will buy a new sewing machine that will help her complete the orders in a shorter period of time and increase her profits. She has been operating her business for the past five years and is confident that her business will improve a lot with a new sewing machine.
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