A very supportive and talented lady with much passion for her work, Khalida operates a decorative embroidery business, having learned the art of embroidery from her mother before marriage. Her skills enable her to contribute financially to the family, as she earns a reasonably good income every month.
Khalida is now requesting a loan from KIVA partner Asasah to purchase embroidery material such as beads, embroidery thread, etc. in bulk. These purchases will allow her to make better-looking embroidered clothes and increase her sales and income. Hoping that the loan will be productive, she aspires to expand her business.
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