Asia's husband is a mason. In order to support him financially, she offers a sewing service. Asia’s days are focused on managing her household work and handling her sewing jobs. She manages both of these very responsibly, giving them the required time. Her family and her customers are very satisfied with her.
Asia has applied for this loan for her son, who will purchase spare parts in larger quantities to be able to meet his customers’ orders on time and to generate more revenue. Asia is hopeful that her son's business will be well-established after making this 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