Her husband’s name is M. I. and he sells traditional Punjabi food called Samosay and Pakorey (which are spicy foods made up of potatoes and different spices). Surriya has applied for a loan from Kiva partner Asasah for further improvement of her husband’s business. With the loan, he will buy required items like spices and potatoes in bulk quantity to make larger quantities of Samosas and Pakodas to sell. He will also buy some plastic chairs and tables to increase the sitting arrangements at his business place. He has been running this business for past 10 years and Surriya is confident that a loan investment will bring even more profits to him.
She is a new loan applicant. She hopes it will bring good changes to her husband’s 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