Gulshan Naheed's Group
Gulshan is also a very dedicated and supportive woman in nature. She runs a juice corner but her work is home-based. She has some juicer machines with which she makes juices of fresh fruits to meet the requirement of her customers. Her husband is a mason on a meager income.
Gulshan has requested a loan from Kiva partner Asasah for her elder son’s business. He runs a tailoring shop in the market from where he sews ladies' and gents' clothes. He is an expert in his work and handles his clients well. With the loan investment, he will buy another sewing machine and will hire an assistant to help grow his business. Gulshan is very confident about the further expansion of her son'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