Zakia has applied for a loan from Kiva partner Asasah for her husband’s loading business. He will use the money to buy new tires to replace the old ones on his truck, which are almost worn out, making it difficult for him to drive the truck and deliver goods. Zakia is hopeful that after buying the new tires her husband will be able to work better and provide better transport facilities to his clients. She is a regular loan user of Asasah and this is her 5th loan application. In previous loan years she has maintained good credit and never missed any meetings.
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