Nasreen is the mother of two sons and two daughters. Her elder son operates a local food restaurant while two other children are studying. Her youngest daughter is six years old and hasn’t started her education.
Nasreen is a housewife as well as a working lady. In her spare time she sews clothes for her neighboring customers to supplement the income of her family. She is hopeful that after the loan investment, her husband’s business will grow and will increase his income and that will allow her to send her younger daughter to school in near future.
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