Nargis baji is a 35-year-old married woman and a citizen of Borewala, Pakistan for the past 20 years. Nargis baji is the mother of five children: four daughters and one son. All of her children are getting an education from a school located near her house. Nargis baji is married to a man whose name is M. M. and he is a mason by profession. Nargis baji is a very supportive lady. She shares the financial burden with her husband by sewing clothes. She charges $2 per dress. She invests her income in a committee because her husband wants to start a milk selling business. She is applying for a loan of PKR 56000 to add to the committee pool to buy a buffalo.
She is a group leader of more women in her area. Razia begum baji would like a loan to buy wood for her wood selling business. Hanifan baji would like a loan to buy fertilizer to sell. Khalida baji would like a loan to buy a donkey cart for loading. Kosar baji would like a loan to buy iron to make iron rods to sell. Ameeran baji would like a loan to buy goats to 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.