Ameeran owns and operates a dairy business at her home. For this purpose, she has a buffalo. She gets up early in the morning, milks the buffalo and than supplies the milk to her community clients. She sells the milk at reasonable rates.
She has applied for a loan from Kiva partner Asasah for the further expansion of her dairy business. With the loan, she will buy another buffalo, which will help her get a larger quantity of milk and increase her sales and profits. She has been doing her business for sometime now and is confident that her business will grow further after 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