Jamila has applied for a loan from KIVA partner Asasah for her husband’s grocery store business. With the loan investment, he will buy grocery stock such as spices, cooking oil, snacks, etc. in bulk quantity to be able to fulfill the clients' requirements and increase his sales and profits.
Jamila is a housewife, remaining at home and performing her household duties. She has given birth to three daughters and two sons. Her sons work while her daughters are continuing their education.
Jamila is very confident that her husband will be able to compete better against other grocery store owners in the market by putting out a larger grocery stock at his shop and this will help her family to live a better life.
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.