Sakina’s work consists of sewing. Her work is home-based. She sews every kind of dress, which motivates her clients to get her services. She started this business a few years ago with few clientele, but due to her efforts, her business has been able to grow gradually with improved numbers of clientele.
Her husband is involved in the animal sales business. He has enough experience in his business. He buys young animals for a small amount from the animal markets and sells them for good profits after raising them. His sales are good because he stocks good animals and guarantees that his customers can expect to get what they desire.
To make his business grow and to improve his business’s financial status, Sakina is requesting for a loan from Kiva partner Asasah. Her husband will use the loan for purchasing animals (goats) in larger numbers to sell.
She is hopeful that her husband‘s business will grow after the loan investment.
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