Akbari has five children. Her youngest child is in fourth class. The other children left their education in their teen-age years and started work to contribute to the family financially. She has applied for a loan from Kiva partner Asasah for her son who has a business making & selling snacks. He makes snacks using a snack-maker machine and sells to his local area clients. He generates income for the family. His clientele base is children and his snacks are very famous among them.
With the loan, he will buy required ingredients such as gram flour, cumin seeds and cooking oil in bulk quantity and repair the snack-maker to be able to make a larger number of snacks to sell and increase his profits.
Akbari hopes that an investment will be a profitable one for her son's business.
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