I belong to KRK, a small semi urban in Pakistan. I am a mother of five girls and four boys. Four of my kids are married including three girls and one boy. I am borrowing for my milk sales business; I sell milk to various milkmen in my town who come to my house to collect milk. With my share of loan I plan to buy an additional dairy cow. My income has increased substantially over the past four years since I am the member at Asasah. My business grew and I was able to save enough money to buy a piece of land.
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