Akhtari Akbar Ali Group
Akhtari baji is a very supportive lady. She helps her husband pack the fruits in cartons so that he is able to work more efficiently and deliver the fruits to the shop keepers. She is applying for a loan to expand her husband’s fruit selling business.
Akhtari baji is the group leader of some more women of her locality. Nasreen baji wants a loan to pay the remaining installments for her auto-rickshaw (a local three-wheeled motor vehicle). Shakeela kosar baji wants a loan to buy fishes for her fish and meat selling business.
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