Sonia’s husband runs a computer shop where he provides computer repair services for his customers. He has great technical skills and is very experienced in his business. His customers trust his services and prefer to purchase different computer accessories from him because he offers them at a good price.
Sonia’s group has applied for a 190,000 PKR loan from Kiva’s partner Asasah. She will apply her portion to her husband’s computer shop. With the money, he will buy computers, monitors and other computer accessories such as mouses, keyboards and memory upgrades to sell to his customers.
Sonia is hopeful that her husband will be able to improve his business after investing the loan. She is hopeful she will be able to send her youngest son to school as soon as her husband’s business expands.
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