Salma is a seamstress and sews clothes for her neighboring clients. Due to her good quality work, she receives regular orders every month.
Her husband sells animals. He purchases buffalos and then sells for profit.
Salma has applied for a loan from KIVA partner Asasah for her husband who will buy a buffalo to later sell and earn profits on the buffalo's milk in the meantime.
He has been operating his business for many years and Salma is very confident that a loan investment will help him earn more profits from his 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