In order to support her family financially, Nasreen sews clothes for her neighboring clients. She is very skilful and receives regular orders every month.
Nasreen has applied for a loan from KIVA partner Asasah for her husband’s animal selling business. With the loan he will buy animals such as goats and sheep for resale.
Nasreen provides full support to her husband. She gives food to the animals and keep their living place clean.
She is very confident that her husband will get more success in his business by investing the loan.
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