Mussarat has applied for a loan from Kiva partner Asasah fort the establishment of her husband’s milk selling business. With the loan, he will buy milk in larger quantity that will allow him to be able to sell more and earn better income. He has started operating his business 3 months ago and his business very much new. Mussarat is hopeful that after the loan investment he will be able to get established in it and increase his profits.
Note: In the photo, the lady raising her hand is Mussarat.
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