Zahra and her husband are very cooperative with each other. They are involved in a sewing business. She sews ladies' clothes on order while her husband sews gents' clothes on order. In this way, they collect good orders from their customers and earn a good income after completing the orders on time.
Zahra is relatively new to the sewing business, while her husband has been operating this business for more than 5 years. In these years, he has obtained a good reputation among his clients.
Zahra has requested a loan from Kiva partner Asasah for her husband’s sewing business. He will use the loan to buy a new sewing machine and will hire an assistant to receive more orders and boost the earning profits of the business.
Zahra is very confident that their business will be improved a lot with 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