Asia Khurram's Group
Asia has applied for a loan from Kiva's partner, Asasah, for her husband’s vegetable selling business. With the loan amount, he will buy fresh seasonal vegetables to sell through his vegetable shop in the market. She is hopeful that with the loan investment her husband’s business will grow which will have a positive impact on his business and improve the family's standard of living. She is a new borrower from Asasah and this is her first loan application. She expects that it will be a good experience for her and her family as well.
Note: In the photo, Asia is the lady who 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