Her husband operates a Punjabi food restaurant. The taste of his food is very good and he has a good number of customers who come to his restaurant on a daily basis for lunch and dinner.
Mehmooda has applied for a loan from Kiva partner Asasah for her husband’s business. With the loan, he will buy some furniture to provide better seating facilities for his clients and food making ingredients like spices, cooking oil, flour, etc. in bulk quantity.
Mehmooda is very hopeful that an investment will help her husband in expanding his business and earning more profits.
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