Bashiraan has a clothes-selling business. She purchases them from a wholesale market and sells to her local area clients at a profit. She has applied for a loan from Kiva partner Asasah for the further expansion of her husband’s business. With the loan, he will buy thread and tools, which will enable him to weave better quality carpets and earn extra income. He is very experienced in his business and has been operating it for past 10 years. Bashiraan hopes that an investment will help him improve his business and income.
Note: In the photo, the lady raising her hand is Bashiraan.
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