Naseem, in her spare time, provides full support to her husband by taking care of the animals. She is also a seamstress and sews clothes for her neighboring clients for profits. She has given birth to 3 sons. Her eldest son is illiterate while the other 2 are enrolled in a local school and are getting their education. Naseem is hopeful that an investment will help her husband increase his income and she will be able to continue giving education to her children.
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