There are several other women in this loan group who also require small loans: Tahira Y. needs her share of the loan for her husband’s medical laboratory; Razia J.’s daughter runs a beauty salon. Suriya S. will invest her share of the group loan in her husband’s grocery store, and Sakina S.’s son runs a medical laboratory. All these women have been together for a year and practice values such as punctuality and saving.
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