In order to afford the living expenses of her family, she runs a grocery store at home. She sells different grocery items such as cooking oils, spices, sugar, etc. She is very fair in her rates and earns good profits every month.
Her son also works with her in her grocery store.
She has applied for a loan from Kiva partner Asasah for her grocery store business. With the loan, she will buy groceries in bulk that will allow her to fulfill her clients’ orders and make more profit.
She has had this business for the past two years and is confident that an investment will help her make her business more profitable.
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