Kosar and her husband are both very talented and hardworking persons. They are both involved in a football-making business. They stitch footballs and they receive orders from the factories. They complete the orders by doing a lot of struggling to generate income for the family. From the earnings, they run the financial circle and pay off the utilities and school fees of their children.
Kosar has applied for a loan from Kiva partner Asasah for their business. They will invest the loan in buying a football stitching machine, which will help them in receiving larger orders and fulfilling them on time. They are very hopeful that their business will be expanded further and they will be able to increase their client-base and be able to make their income double in size.
Note: "One of the members has a sewing business, that's why she is showing it in the picture".
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