Atia herself is a talented lady. She owns and operates a sewing business at her home. She does this work to supplement the income of her family. She has been operating her business for the past 10 years by receiving orders from her relatives and neighbors. Now she has become expert in her work and receives regular orders from her customers.
She will invest the loan in buying a new sewing machine because her current machine has become rough and doesn’t produce quality work. She is hopeful that her sewing business will return her better profits 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