Khalida is a very supportive lady by nature. She supports her husband in managing the household expenses by sewing clothes for her neighborhood clients. She is very good in her profession and receives regular orders every month.
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 the required ingredients & utensils (big cooking pots) to make food of good quality and in larger quantity to fulfill his orders and earn a good income. He has been operating his business for the past 10 years and Khalida is very confident about the future growth of her husband’s business as a result of the loan.
Note: In the photo, the lady raising her hand is Khalida.
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