With a retail and tailoring shop, Darius is a hard-working and determined man. He also owns cows that give him milk for use at home as well as to sell and to make ghee for sale.
Darius needs a loan to help him restock his retail shop with more goods, since the savings and profits from this venture help to boost his other businesses and pay for his children’s education. He is such a hard-working and friendly man with a dream of expanding all of his businesses for more profitability.
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