Maqsoodan has four children: three daughters and one son. Her eldest daughter has completed her education to 10th standard and now works as a nurse in order to financially contribute to the family. Her second daughter is in 10th standard, while her younger daughter is in 9th standard. Her son is not yet old enough to attend school.
Her husband is a driver. He drives a rickshaw and provides transportation to his passengers. He has been in this profession for the past ten years. Maqsoodan has applied for a loan from Kiva partner Asasah for her husband’s business. With the loan, he will repair his rickshaw because it is currently not operating properly and doesn’t allow him to drive on longer routes. With a fully-repaired rickshaw, her husband will be able to continue his business and provide his services to more passengers.
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