Suriya has requested a loan from KIVA partner Asasah for her sewing business. With the loan investment, she will buy a new sewing machine, which will enable her to finish the orders on time and increase her profits.
She is very experienced in her work and well known among her clients for her quality work. She is confident that by purchasing a new sewing machine her business will be established further.
Her husband does a job and her eldest son is a laborer. Her two daughters remain at home.
Suriya is a very positive thinking lady and never loses hope. She is confident about her family’s better financial future.
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.