Ailas is a talented lady. She owns and operates a sewing clothes business at her home. She receives orders from neighbors. She also offers customers a variety of ready-made clothes that she sells at reasonable prices.
She has applied for a loan from Kiva partner Asasah. With the loan, Ailas will buy clothes and a sewing machine to expand her business. She is hopeful that with a new sewing machine and cloth she will double her income.
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