Sadia herself is a housewife. She stays at home and takes care of her household responsibilities. She has given birth to 5 children, all of them are enrolled in a local school and getting their education except the youngest one, who is only 3 years old and is not of school-going age yet.
Sadia has applied for a loan from Kiva partner Asasah to further expand her husband’s business. With this loan, he will buy paper envelopes in bulk quantity to increase his sales and profits. Sadia is very confident that her husband will be able to make more profits from his business 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