Rukhsana supports him by sewing clothes. She is an expert in her work and receives regular orders every month. She has applied for a loan from Kiva partner Asasah to buy a new sewing machine for her business. This will allow her to complete her work in a shorter period of time and increase her profit.
She has been operating her business for the past five years and is very confident that her business will improve further with the loan investment.
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