Razia's husband has a private job with a monthly wage. His income is not sufficient to meet the financial expenses of the family, so Razia helps him by running a canteen business. She can also sew, which she does at weekends.
Razia runs a canteen in a school, where she serves children food including cold drinks, samosas, chips and kababs. She earns good money from her business. She has requested a loan from Kiva's partner Asasah, which she plans to invest in buying supplies like cold drinks, cooking oil, spices, flour and potatoes for her canteen business. Razia hopes that her business will grow 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