Safia has requested a loan from KIVA partner Asasah for her sewing business. With the loan investment, she will buy a new sewing machine, because with her current machine she is unable to complete the orders on time. Her husband is involved in a tie and dye business. His clients are very happy with his services and he receives regular orders every month.
Safia is the mother of 3 children. All of them are enrolled in the local school and getting their education. She is very supportive and performs her household duties very well, along with her business. She is confident that by purchasing a new sewing machine, she will be able to complete her orders on time and increase her profits.
Note: ”In the photo, the lady holding a book called Asasah Passbook is Safia.”
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.