Noreen Same's Group
Her husband is involved in garment business. He purchases ready-made garments and sells to customers. Noreen herself has a boutique business where she displays her sewed dresses and sells to clients at a profit.
Noreen’s brother-in-law also lives with her family. He drives a rickshaw of his own to generate income. He has been in this profession for the past 5 years. He is an honest person and has good driving skills.
Noreen has applied for a loan from Kiva partner Asasah for her brother-in-law’s business. With the loan, he will purchase a compressed natural gas (CNG) kit and do some repair work on his rickshaw so he can drive it for longer hours and increase his income. Noreen is hopeful about the positive financial growth of her brother-in-law’s 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