Hasina is 50 years old, married, and has nine children, all between 7 and 28 years old. Since 2005, Hasina has been earning income selling charcoal and firewood. Every day, she works from 7 a.m. to 4 p.m., earning a monthly profit of about US$70 from the sales.
Hasina currently needs a loan to buy more charcoal and firewood for sale in order to improve her business. She will share this loan with her sub-group members, who have businesses dealing with dress-making and general 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.