Kosar is a seamstress. She is very experienced in her work and has been a seamstress for 25 years. She receives a good number of orders every month from her neighborhood clients and fulfills them to earn profits. Her income has helped her children continue their education.
Kosar is requesting a loan from Asasah to buy an overlock machine, which will help her provide overlock services to her customers along with sewing. This loan will help her to increase her income.
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