She lives with her brother and 4 children; 3 sons and a daughter. All of her children are enrolled in a local school and are getting their education except for her eldest son who works in a factory. Her brother also works in a factory.
Kosar has applied for a loan from Kiva partner Asasah for her sewing business. With the loan, she will buy a new sewing machine because her current machine doesn’t produce quality work. The new machine will help her to finish the orders on time and increase her profits.
She is very confident that this investment will help her improve her income and enable 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