Her husband is a butcher by profession and operates a meat shop in the community where he specifically deals with chickens. He handles a good clientele base who come to him for purchasing chicken meat. He sells fresh quality meat to the customers with perfect measurement.
Razia has applied for a loan from Kiva partner, Asasah, for the further expansion her husband’s business. With the loan, he will buy chickens in larger quantity which will allow him to fulfill the client orders on time, particularly for weddings and other parties. He is very experienced in his work and has been operating it for the past many years. Razia is hopeful that the loan will be a productive one for him.
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