With the loan investment, he will buy spare parts of different brands and some repair tools to offer even better quality services to his customers and increase his income.
Salma works in people's houses to financially support her husband. She is a mother of two children. Both of the children are illiterate as Salma couldn’t afford their education.
She is hopeful that a loan investment will help her husband make more profits from his business and be able to send her children to school.
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