Irshad Bhola Masih Group
Irshad baji is the mother of three kids: two sons and one daughter. Her elder son is a driver; he also drives an auto-rickshaw (a local three-wheeled motor vehicle). The others enrolled in a school and getting an education. Irshad baji is a sweeper. She works in a government office for a monthly wage. She invests her income in a committee and plans to marry off her daughter when she gets the whole amount. She is applying for a loan to pay off the installments of her son’s auto-rickshaw.
Irshad baji is the group leader for more women from her locality. Azra baji wants a loan to buy groceries for her grocery shop. Bushra baji wants a loan to buy cosmetics to sell. Mumtaz baji wants a loan to pay off the installments of her family's auto-rickshaw (a local three-wheeled motor vehicle).
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