Rehana is a widow. After the death of her husband she moved to her brother’s home with her four children. Due to poor financial conditions, she is only able to provide education to her elder daughter.
She belongs to Chichawatni which is a small city located in Punjab, Pakistan, known for its agriculture industry. She is hopeful that after investing the loan money into her brother’s business, her brother will be able to expand his business further and increase his profits.
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