Latifa's Hakuna Kulala Group
Latifa is 28 years old and married with two children, who are six years old and just two months. Since 2007, she has owned a small salon and has also been a chips seller. She works every day at her business and can earn a monthly profit of about $250 from her sales.
Latifa is now looking for a loan to expand her business. She will share this loan with her subgroup members, who have businesses selling coconuts, firewood, charcoal, chips, clothing, and bites.
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