Ayaba Elisabeth's Group
In order to strengthen her business and to meet the needs of her customers, she has requested and received a micro loan from Finadev so that she can increase the size of her order and generate more interest. The profit generated will allow her to help with the schooling costs of her children and to pay her debts. Elisabeth is on the left of the photo.
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