Asha is 25 years old and is married with 1 child, age 10 months. She and her husband also take care of two other children, ages 14 and 12 years. Asha owns a small stock of animals. She started her business in 2006. Every day, she works from 8am to 6pm, and can earn a monthly profit of about $190 from her sales.
She now hopes for a loan to buy more animals to increase her stock. She will share this loan with her subgroup member Rehema, who has her own business.
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.