Irshaad Mae's Group
She is married, and her husband has a Punjabi food restaurant. The taste of his food is very good; that’s why he has a good number of clients who come to his restaurant every day.
Irshaad is the mother of three children: one of them works and earns a reasonable amount of income that helps Irshaad with running her household expenses.
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 required ingredients such as spices, rice, lentils and flour in bulk to be able to prepare better quality food and to serve many more customers.
Irshaad is hopeful that her husband’s business will be established further and it will allow her family to live a better financial life.
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