Irshad bibi is a 54-year-old married woman. Through her marriage, she has three children: one son and two daughters. All of her children are getting education from a nearby school. Irshad herself is a caring woman who lives as a housewife. She makes the utmost effort to provide comfort to her family by fulfilling their needs. Her husband is a farmer and involved in the agriculture profession. He grows seasonal vegetables and fruits and sells in the vegetable and fruits markets. He has 10 years of experience in his work. His work requires a lot of struggle but it results in good income. Irshad has applied for a loan from Kiva partner Asasah for her husband’s business. He will use the loan to buy pesticides, fertilizer, and seeds in larger quantity to grow products of better quality for selling. Irshad is hopeful 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.