Poverty Eradication Group
Isha is requesting a loan to buy cooking utensils and raw foods and sodas for the restaurant. She is a member of a loan group, which, as their name suggests, is geared toward eradicating poverty in their households. Despite challenges, Isha is determined to change the future of her family. In this photo, Isha is seated second seated from the right. Only 11 of the 13 group members are pictured because two members were absent with apology from the group meeting although the did sign the waiver form.
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