Her husband runs a grocery store in the market. Through his store, he sells daily used items such as sugar, spices, lentils, rice etc. He is very fair in his rates and earns good profits from his business.
She has given birth to three children: one of them is studying while the others are very young and haven’t started their education yet. She has applied for a loan from Kiva partner Asasah for her husband’s grocery store business. With the loan, he will buy groceries in bulk, which will allow him to fulfill the client's orders and earn better profits. He is very experienced in his business and has been operating it for the past nine years. Asia is very sure that his business will be improved further after the loan investment.
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