Her husband has an animal-sales business. He buys young animals from the animal markets and sells them to butchers after raising them. He is very experienced in his business. He has good knowledge about animal breeds and people trust him for his work. He receives good number of orders and earns good profit on each sale.
Mukhtar has applied for a loan from Kiva partner Asasah for her husband’s business. With the loan, he will buy goats for reselling. Mukhtar is hopeful that her husband will make good profit from his 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