Munawar bibi is a 55 year-old married woman who has three children: two boys and one daughter. Her eldest son is 25 years old and a mechanic by profession, while her second son is a driver by profession. Her daughter reads in 10th standard.
Munawar is a very efficient and caring lady by nature. She is involved in the sewing & embroidery business. Her work brings her a good profit. She crafts beautiful embroidered designs on clothes and sews with perfect measurement.
Her brother also lives with her family. He is involved in the medicine sales business. He runs a medical store in the community where he makes good sales from his business. Munawar has applied for a loan from Kiva partner, Asasah, for her brother’s medicines business. He will invest the loan in buying medicines to put in his store. She is hopeful that her brother’s business will be expanded further 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.