Asia’s husband operates a food stall where he sells Punjabi food items called “Nan chanay and rice.” He sells his food items to his community people and makes good earnings. Asia helps him in cooking food for his stall so he provides better quality services to his customers and keeps on earning good for the family. He has been operating his business for the past 5 years and he got good reputation among his customers for his good quality and taste of food.
She has requested for a loan from Kiva partner Asasah for her husband’s business. With the loan, he will buy food material rice, spices, cooking oil, chick-peas, utensils and some chairs for making a sitting arrangement which will allow him improving his services on larger scale and serve more customers.
She is hopeful that her husband’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.
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Success!! The loan was 100% repaid