Her husband is a talented man himself. He works making wooden cots. He offers his services to community clients and also to the market people. This is his family business which was started by his forefathers.
He is very honest in dealing with his clients and his quality in work attracts them towards him.
Hamidan has applied for a loan from Kiva partner Asasah for her husband’s business. He will invest the loan in buying wood and nails for making the cots in larger quantity and increasing his income.
Hamidan is very confident about the future growth of her husband’s business.
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