Ameeran has applied for a loan from Kiva's partner, Asasah, for her grocery store business. With the loan, she will buy different grocery items such as sugar, salt, etc. in larger quantities that will allow her to make more income by selling them. She is an experienced lady and has been operating her business for the past many years. She is confident that her business will be improved further after investing the loan.
In the photo, the lady holding a book, an Asasah passbook, is Ameeran.
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