She has been joined in her loan by a few group members. Abida baji who wants loan to buy an ice-Cream maker. Shekeela baji wants a loan for her welding business. Fozia baji wants a loan for her garment business.
This is a group loan. The loan funds will be distributed among the group members, each of whom will invest in her business. The members mutually guarantee one another's loans. If one member does not repay, the other members are responsible.
NOTE: 'Baji' (elder sister) is an Urdu term of respect for women.>
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.
209View loans »
Success!! The loan was 100% repaid