Rukhsana is a seamstress. To help support her family, she sews clothes for her customers in her community. She is very efficient in her work, and due to her good skills, she receives regular orders every month.
Rukhsana’s group has applied for a 95,000 PKR loan from KIVA’s partner Asasah. She will use her portion to help with her husband’s business. With the money he will buy a soda-making appliance that will allow him to offer better quality cold drinks to his customers and so increase his sales and profits.
Rukhsana is confident that with this loan her husband’s business will improve.
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