She has been operating her business for over 4 years. Although these few years are considered to be for the establishment of her business, Shakila’s good business sense and dealing with customers has developed to a good level which is now giving her benefits in the shape of money & respect.
She has now requested a loan from Kiva partner Asasah for the further expansion of her clothes sales business. She will invest the loan in the purchasing of clothes in larger quantities and with different variety for reselling. She is expecting good revenue from her business after the loan investment.
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