Parveen has applied for a loan from Kiva partner Asasah for her husband’s business. With the loan, her husband will buy goats in bigger quantities and fulfill the orders of his customers. She is hopeful that this investment will prove beneficial for her husband and his income will double in size.
Note: In the photo, the lady who is slightly raising her hand is Parveen.
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