Her husband, M. M., is a motor mechanic who runs a motor workshop in the nearby market where he repairs cycles and motorbikes and generates income for the family. He has become expert in his work because he has 10 years of experience in it. Sakina has applied for a loan from Kiva's partner, Asasah, for her husband’s motor workshop business. With this loan, her husband will buy the latest repair tools and spare parts for cycles and motorbikes for his business. Sakina is hopeful that with this investment, her husband’s business will improve a lot and that his income will double in size.
Note: In the photo, Sakina is raising her hand.
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