Shahida Parveen's Group
Shahida has applied for a loan from Kiva partner Asasah for her sewing & embroidery business. With the loan investment, she will purchase a sewing machine for sewing dresses because her current machine is also used by her daughters which affects the deadlines. With the new sewing machine, she will be able to meet the orders on time and it will be a good addition to her business assets. She is confident about the positive financial results from her business 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