Felista is 30 years old. She is a married woman with 1 child aged 10. She has owned and run a small pharmacy since 2005. She works everyday from 6.30am to 9pm and can earn a monthly profit of about $250 from her sales.
Felista requests a loan to buy more medicine and medical items for her business. She will share this loan with her subgroup member Fatuma, who has a business selling charcoal.
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.