Her husband puts the bed-sheets on his cycle and visits different streets of the city to sell them.
Husna has applied for a loan from Kiva partner Asasah for her husband who will buy bed-sheets in larger quantity and of different varieties to increase his sales and profits. He is very experienced in his business and Husna is hopeful that an investment will bring positive financial changes to his 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