Saada is 47 years old. She is divorced with two children aged 18 and 11. She has been a clothes seller since 2005. Every day, she works from 7.30am to 4pm, earning a monthly profit of about $90 from her sales.
Saada now seeks a loan to buy more clothes for re-sale. She will share this loan with her sub-group members, Mosi and Zainab, who have businesses dealing with clothes sales and perfumes 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.