Rehana Bibi's Group
Rehana has applied for a loan from Kiva partner Asasah for the further growth of their family business. They will invest the loan in buying thread in larger quantity for reselling. They are very confident about the positive financial outcomes from the investment.
Note: “In the photo, the lady holding a book (called Asasah Passbook) is Rehana bibi”.
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