Mumtaz is a housewife and performs her household duties by staying at home. In her spare time she also takes care of the cattle and helps her husband run his business. She has given birth to five children. Three of them are studying while others stay at home.
She is very hopeful that her husband's business will grow with the loan investment and it will help her family to live a better financial life.
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