Yasmeen has applied for a loan from Kiva partner Asasah for her eldest son, who wants to buy another sewing machine and clothes for the further expansion of his business. He will also hire a worker, which will allow him to finish the orders on time and increase his sales and profits. He has vast experience in his business and Yasmeen is very confident that an investment will be a productive one for him. She wants him to marry soon and is hopeful that an improved business condition will help her make savings for that purpose.
Note: "In the photo, the lady raising her hand is Yasmeen".
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