Hailen has applied for a loan from Kiva partner Asasah for her son’s business making and selling furniture. With the loan investment, he will buy wood and other raw materials for making better quality furniture and increase his income by selling it for more money.
Hailen is a housewife who stays at home and does her household responsibilities. She has given birth to a son and three daughters. Her eldest child is a teacher; the others are getting their education. Hailen is hopeful that her son will get maximum profits from his business by investing the loan.
Note: In the photo, the lady holding a book (called Asasah Passbook) is Hailen.
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.