Kaniz describes herself as hardworking. Her business is making artificial flower sets and she has been doing this for over ten years. She makes flowers to order and earns a good income which allows her to manage her financial expenses.
Kaniz’s husband runs a games shop in the community. His shop is always filled with young kids. He also supports their home. Kaniz is applying for a loan to purchase a billiard table to expand her husband’s games business.
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