Nasreenhas is very skillful and makes thread from used clothes. Now requesting a loan from KIVA partner Asasah, she will buy used clothes in bulk quantity to make thread to sell to her clients for profit. She has been operating her business for many years and is confident that the loan will help her to earn more income.
Note: In the photo, the lady raising her hand is Nasreen.
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