Kaneez Fatima's Group
Kaneez is a very caring housewife. She stays at home and manages the household works. She takes care of her family and tries her best to provide comfort to her family by fulfilling their needs. Her husband runs a canteen where he sells food items such as biscuits, chips, cold drinks, etc. to his customers and earns on profits. He makes good sales, which allows him to put three meals on the table for the family.
Kaneez has applied for a loan from Kiva partner Asasah for her husband’s business. He will invest the loan in buying more edible items, in larger quantities, to put in his canteen for reselling. Kaneez is very sure that her husband’s income will be increased 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