Jannat is a seamstress by profession. She sews clothes for her neighboring customers and earns income for the family. Her husband’s death was a great loss for her but she never gave up and takes care of her family financially from her sewing business.
Her son will purchase clothes in larger quantity for reselling. Jannat is very hopeful about his business’ financial growth 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