Mariam has applied for a loan from Kiva partner Asasah for her husband who sells animal for a living. He buys young goats and sheep, raises them with good quality food and then sells them to butchers for a profit. Mariam’s husband has been operating his business for the past ten years. She is very confident that her husband will make a good profit during this EID (Muslim holiday) that is only a month away.
Mariam is a regular Asasah loan client and this is her second loan application. In the previous loan year, she established good credit behavior and never missed a meeting.
Note: “In the photo, the lady raising her hand is Mariam”.
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