Salma's Hatuchoki Group
In the past, Salma has taken out one successful loan from BRAC Tanzania to expand her business. Salma is now requesting a loan of $1925 to buy more clothing for her business. She will share this loan with her subgroup members who have their own businesses selling perfume, juice, bites (snacks), cosmetics, phone vouchers, clothing, shoes, CDs, and DVDs.
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