Rasheeda also sews clothes for her community clients. She receives regular orders every month due to her good quality work. Her husband operates a horse cart and provides loading and transportation services to his customers.
Rasheeda has applied for a loan from Kiva partner Asasah for her husband, who will buy a young horse for the improvement of his business. This will help him to provide better quality loading and transport services to his customers, and to increase his profits.
He is very experienced in his business and Rasheeda is confident that his business will be further improved after investing the loan.
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