I am Rukhsana W. from Faisalabad, an industrial city in Pakistan. I am married and a mother of four: three boys and one girl. One of my sons is currently working while all my other kids attend school. My husband paints buildings and churches on order. We need a loan to buy a few items so we can fulfill our recent order to paint a school. We want to expand our business to increase our income, which we will save to build a house of our own.
Sobia N. wants to buy a movie camera with her share of our group loan. Rubina B. needs this loan for her husband’s paint business. Asifa N. is borrowing for her husband’s medical laboratory. Shabana R. also wants to buy a movie camera.
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.