Mumtaz is a seamstress. She learned the art of sewing in her teenage years, and now she earns regular income from her business. She has given birth to two sons and two daughters. She is unable to provide an education for her children due to financial constraints. Mumtaz is very confident that her husband will make good use of the loan money and his business will improve. This will help her send her children to school for an education in the future.
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