Shameem is a housewife: she is still very active at the age of 53 and performs her duties very well. She has applied for a loan from Kiva partner, Asasah, for her husband who wants to buy fresh fruit. This will help him to further increase his sales and profits.
He has been operating his business for many years. Shameem is very confident that after the loan investment, his business will grow further resulting in a better financial life for Shameem and her family.
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