Razia is a housewife as well as working lady. She is an embroidery expert and makes beautiful looking embroidered clothes for her community clients.
Her husband is a rickshaw driver and provides transport services to his passengers.
Razia has applied for a loan from KIVA partner Asasah because her husband wants to expand his business. With the loan investment, he will buy another rickshaw which he will give on rent for making extra profits.
Razia is very confident that by improving her husband’s business, her family will be able to enjoy better financial life.
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