Her husband operates a fruit-selling business. He goes to the fruit market everyday early in the morning and buys fresh seasonal fruits for selling to his customers.
He has been operating his business for the past 10 years and currently he is in need of money for buying fresh fruits in larger quantity. Therefore, Rehana has applied for a loan from Kiva partner Asasah for the further expansion of her husband’s business. Her husband is very experienced in his business and Rehana is hopeful that an investment will bring his business to better and more profitable position.
She is a new loan user of Asasah and this is her first loan application.
Note: In the photo, the lady raising her hand is Rehana.
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