Sakina Nadir Ali Group
Sakina baji is involved in preparing embroidered clothes. She prepares embroidered dresses and sells them to the cloth markets and earns profit. She saves her income in a committee and plans to renovate the house from the committee amount. She is applying for a loan to buy tea, sugar and milk to expand her husband’s tea stall.
She is the group leader for some more women from her locality. Zainab baji, Mussarat baji and Nasreen baji each want a loan to buy groceries for their grocery shops. Zubaida baji and Bilquis baji each want a loan to buy material (lentils, cooking oil and spices) for their food 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