Zubaida has applied for a loan from Kiva partner, Asasah, because she wants to buy a new sewing machine and hire an assistant to expand her sewing business. A new machine will allow her to take more orders and finish them on time to increase her profits.
She is very expert in her business and very confident that an investment will be beneficial for her.
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