Shamshad is the mother of 3 sons and a daughter, 2 of them work while her younger daughter is studying. Her youngest son is 6 years old and hasn’t started his education yet. Her husband has a job which earns a low income. Shamshad wants to provide education to her youngest son and she is confident that she will be able to do so after the improvement of her grocery store business.
Note: In the photo, the lady holding a book (Called Asasah Passbook) is Shamshad.
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