She has applied for a loan from KIVA partner Asasah for the further expansion of her brother-in-law’s business. He also lives with her family and operates a thresher machine which is used for the separation of grain from husks. With the loan investment he will repair his thresher machine and will also buy some tools that will help him to perform his work better. He has been operating his business for the past many years, and Fazilat is hopeful that an investment will help him in securing his business assets and allow him to do his work better and make more income.
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