My name is Nasreen and I a married lady. I own a two-room brick house and have been living in it with my family for the past 12 years. My husband's name is M. Tufail. He runs a shop in the community where he sells woods. He chose this profession because there’s no gas available in the community and people come to him to buy wood. I am a mother of two kids: one son and one daughter. Both of my kids are enrolled in a school and are getting an education. I am applying for a loan to buy wood to expand my husband’s wood-selling business.
I’m the group leader of four other women from my locale. Rukhsana baji wants a loan to buy groceries for her grocery shop. Shamim baji wants a loan to buy a sewing machine for sewing clothes. Shahnaz baji wants a loan to buy spare parts for vehicles to sell. Rani baji wants a loan to buy a buffalo for her milk-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.