Naseem's husband is very expert in his work and has been doing it for more than 15 years. He makes shoes to order and earns income for the family. Due to the quality of his work and its on-time completion, he has built a good image with his customers which helps him in getting orders every month.
Naseem has requested a loan from Kiva partner Asasah for her husband’s business. He will invest the loan in buying required material like leather, nails, shoelaces and shoe polish in larger quantities to make shoes to order and earn a better income. She is very confident that her husband’s business will be improved a lot 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