She has requested a loan from Kiva partner Asasah for her brother who operates a business selling fruit. He has been doing this business for over eight years. He boasts a good clientele and makes good sales. He sells fruit by visiting different areas and streets with his four-wheeled cart. His honesty and fairness in dealing motivates his customers to approach him to buy their fruit.
He will invest the loan in buying fresh seasonal fruit in larger quantity for resale. Shahnaz is hopeful that the loan investment will bring positive financial changes to his business and he will be able to serve many more customers as well.
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