Margarette Nathaniel's Group
Margarette belongs to a family of farmers. She started her own business after her marriage and now she is running an animal sales business with her husband. Both are very supportive toward each other. They love doing this work and care much for their cattle.
They purchase young animals from the animal market at low rates and sell them for a good price after raising them. In this way, they run the financial circle of their family.
Margarette has applied for a loan from Kiva partner, Asasah, for their own business. With the loan, they will buy animals (goats) and animal food for the further expansion of their business.
They are hopeful that the loan investment will bring positive financial changes to their 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