Her husband is an electrician by profession and operates an electric shop in the community market where he services electric items and provides repairing services to the customers. He is well-known among his customers for his work and good behavior. He has been operating his business for over eight years.
Shazia has requested a loan from Kiva partner Asasah for her husband’s business. With the loan, he will buy electric items such as bulbs, tube lights and some repairing tools to help make his work more effective. Shazia is very hopeful that the loan would improve the financial position of her husband’s business.
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