Bashiran Bibi's Group
Her husband is a painter by profession. He paints walls and buildings on contract. He gets the money when he finishes the orders. His work is not permanent. Sometimes he gets work and sometimes not.
To support her husband financially, Bashiran operates a boutique business. She prepares dresses to display to her clients for selling. She has been operating her business for over five years. Bashiran has requested a loan from Kiva partner Asasah for her boutique business. She will invest the loan in buying of clothes, beads, laces and threads in larger quantity to prepare better quality and better-looking dresses to sell.. She is confident about the financial success of her business after this 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