With this loan, he will buy ingredients such as lentils, spices, rice, cooking oil, etc. for making better quality food. He will also increase the seating arrangements for his customers.
Razia is the mother of two sons and three daughters. Her eldest son works while the other remains at home. Razia was not able to educate them due to financial constraints. Her husband has been operating his business for the past 16 years and he is very experienced in his work. Razia hopes that an investment will bring positive changes to his business and improve the financial conditions of her family.
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