Munawar has applied for a loan from KIVA partner Asasah for her canteen business. With the loan investment, she will buy cooking materials, snacks and cold drinks that will allow her to earn more profits from her business. She is very confident that her business will grow further after the loan investment, and that will allow her children to continue their education.
Note: "In the photo, the lady holding a book (called Asasah Passbook) is Munawar."
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.
257View loans »
Success!! The loan was 100% repaid