The other women in my group are requesting loans for the following uses; Zahida B. needs a loan to repair her rickshaw; Hameeda B.’s husband runs a light decoration business and would like to increase his inventory; Bushra S. intends to purchase more rice for resale; Basheera B. needs to increase the number of items for her grocery store. These women are my friends and we always help each other in time of need.
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