She has applied for a loan from KIVA partner Asasah for the further expansion of her eldest son’s business of selling betel leaves and cigarettes. With the loan he will buy betel leaves and cigarettes of different brands. This will allow him to sell more and earn better profits. He started his business two years ago. Sheeman is confident that her son will utilize the loan in a good way to earn maximum profits for his business.
Note: In the picture, the woman holding a passbook is Sheeman.
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