Saima Rani's Group
Saima has applied for a loan from KIVA partner Asasah for the expansion of her son’s video game shop. With the loan, he will purchase different video games that will allow him to earn more income by encouraging more children from his community to play video games. He has been operating his business for many years, and Saima is very hopeful that an investment will bring positive changes to his business and will increase his income.
Saima is a new loan user with Asasah, and this is her first loan application. She is hopeful that this loan will help her son's business succeed. In the photo, the lady holding a book (called the Asasah Passbook) is Saima Rani.
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