Hasifa N. is a hard working and determined 41 year old. She is married and has eight children ranging from age 25 to 4 years, in addition to caring for orphans. She has been the proud owner of a retail shop and a bar in Kiyindi for eighteen years, although the bar started up later because of public demand. From both businesses, Hasifa earns about $156 a month that helps to care for her family, including the payment of school fees. She is helped greatly by the loans and is able to balance her account books. She wants to become big in business, educate her children to the higher levels, and also to build rental houses from which her children will earn something even after she is gone. Hasifa needs to recapitalize her business so that she will be able to save more.
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.