Sarah has a stall in Seeta trading centre where she has sold fresh produce and chickens for seven years. She is happy that, this being her second loan from Pearl Microfinance, she has been able to transform her business by having more stock - hence more profits.
Sarah is a determined and hardworking lady that has been able to cater for her family with the help of her husband. She needs a loan to help buy more food and chickens for resale.
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