Jamila Bibi's Group
Her husband is a very honest businessman. He runs a business of selling fruit. He sells fresh seasonal fruits from his four-wheeled cart by visiting different areas and streets. He handles a good clientele and makes good sales. He buys fruits from the fruit market at reasonable rates and sells for a profit.
Jamila has requested a loan from Kiva partner Asasah for her husband’s business. He will invest the loan in the buying of fresh seasonal fruits in larger quantities for reselling. Jamila is hopeful about the positive financial growth of her husband’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