Rukhsana is requesting a loan from Asasah for her brother’s transportation business. He drives an autorickshaw and gives pick up and drop off services to his passengers to their destination. With the loan, he will buy a new autorickshaw as he currently drives a rented rickshaw. By purchasing a new autorickshaw, he will be able to increase his income because he will no longer need to pay rent.
Rukhsana is hopeful that her brother’s business will improve with the loan and she will be able to save some profits for his marriage in near 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