She has applied for a loan from Kiva partner Asasah for the further expansion of her business sewing clothes. With the loan investment she will buy a new sewing machine because her current machine has grown old and needs to be replaced. By purchasing a new sewing machine she will be able to complete the orders on time and will also be able to run her business better. She has been operating her business for the past many years and is very confident about the success of her business after the loan investment. She is a new loan applicant of Asasah.
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