Shahnaz Bano Rauf Ahmad Group
This is a group loan, and she is joined in her request by four other members. Shaista baji and Shahnaz baji each want a loan to buy clothing for their knitting businesses. Zareena baji wants a loan to buy cooking oil, lentils, rice, and spices for her Punjabi food business. And Shamim baji wants a loan to buy plastic shopping bags to resell. The loan funds will be distributed among the group members, each of whom will invest in their own business. The members mutually guarantee one another's loans. If one member does not repay, the other members are responsible.
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