Kaniz Bashir Ahmad Group
"I got married in the age of 16 to a man named B. A. who is a cobbler by profession. I am the mother of five children: four sons and one daughter. My first two sons are involved in a decorative embroidery business. The third is a tailor. The youngest works in a factory. I help my sons in their decorative embroidery business. We all three make embroidered clothes and sell them in clothing shops. We have been doing this work for the past 10 years. I am applying for a loan to buy an electric sewing machine to make embroidered dresses.
"I am the group leader for some more women from my locality. Sabra and Samina and Sharifan and Naheed baji each want a loan to buy buffalo for their milk-selling businesses. Sajida baji wants a loan to buy fertilizer to re-sell."
This is a group loan. The loan funds will be distributed among the group members, each of whom will invest in her 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