Nasreen herself is involved in a sewing business. She operates her business at her home to financially contribute to the family. Her business earns her a good amount which helps her to manage the household expenses.
She has applied for a loan from Kiva partner Asasah for her brother’s business. Her brother runs a canteen in a school where he sells different edible items like biscuits, chips, cold drinks and juices to the school children and earns income. He has been in this business for the past 10 years. With the loan, he will buy the edible items and cold drinks in larger quantities to put into his canteen for increasing his sales.
Nasreen is hopeful that the investment will be proven beneficial for her brother’s business.
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