Fatma is 27 years old. Her husband has passed away, leaving her with 3 children, aged 11, 14, and 15. Fatma entered the charcoal and cake industry in 2006. She begins work everyday at 6 AM and ends at 6 PM, and earns around $20 a month in profits from her business.
In the past, Fatma has successfully completed one loan from BRAC Tanzania. She used the money to expand her business, and she would like to continue to do so. She will also share her loan with her subgroup members, who have businesses in food, charcoal, and firewood sales.
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.