Gulzar has applied for a loan from KIVA partner Asasah for the improvement of her sewing business. With the loan investment she will buy a new sewing machine because her current machine has become worn and she is unable to complete the orders on time. By purchasing a new sewing machine she will be able to fulfill larger orders on time and increase her profits.
She is the mother of three sons. Two of them are studying while her eldest son remains at home. Gulzar is very positive-minded lady. She is confident about her business success as a result of 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.