Nasreen is a housewife who stays at home and does her household responsibilities. She is very hardworking and has raised her 6 children with great effort. Due to financial constraints, she couldn’t educate all of her children. Only two of them are able to get education from a nearby school. Nasreen is hopeful that her husband will be able to increase his income by utilizing the loan and that she will be in a position to provide education to her remaining children as a result.
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