She gets her income by selling food stuffs, which she uses to pay school fees and take care of other household necessities. Her previous loan was used to buy more food stuffs to sell, however she now wants to buy building materials to complete her house which is at roofing stage. It may not be enough, but she believes that with more loans and some savings she will be able to accumulate enough money to complete the construction. She is very hard working and shrewd despite her status as a single mother. Madina is the lady in the yellow T-shirt on the front row, the seventh member on the left is the group chairperson who has a running loan but is not taking with this sub group. She signed 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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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Success!! The loan was 100% repaid