She is married and a mother of two sons and a daughter. All of them are enrolled in a local school and getting their education. Her husband is a painter by profession. He paints on buildings, walls and houses, etc.
With the loan, she will buy groceries such as spices, sugar, lentils in bulk quantity to be able to fulfill the client’s demand on time and increase her sales and income.
She is an experienced businesswoman and has been operating her business for past 10 years. She is confident that an investment will increase her profits.
Note: One of the members has an embroidery business - that is why they are holding embroider cloth.
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