I am the leader of a group that includes four other women. We are all committed to eradicate poverty in our community. Noor B. wants a loan for her son’s cotton-trading business. Hanifa B. needs a loan so her son can supply flour to various shops in our city. Amna B.’s husband runs a canteen and wants to buy furniture for it. Sabra B. will use her portion of the loan to start a small shoe-making 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