Shahnaz is a mother of five children – one son and four daughters. All of her children are receiving an education from the local school. Her husband has an animal-selling business. He purchases animals from the animal markets and sells them on to customers. His customer base is mostly butchers in need of good animals who approach him because he has good knowledge of animal breeds. He has 25 years of experience in this business. Currently, the family has one cow at their home.
Shahnaz has successfully repaid her first loan to Kiva partner, Asasah (a microfinance institution in Pakistan). Now she has applied for a new loan to buy animals (a cow and goats) to expand her husband’s animal-selling 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