Shamim Akhtar's Group
Shamim’s husband operates a spare parts shop where he sells spare parts of motor vehicles to the customers, generating an income for the family.
Shamim has requested a loan from Kiva partner Asasah for her husband’s business. He will invest the loan in buying spare parts in larger quantities to put in his shop. Shamim is very hopeful that the loan investment will bring better profits to her husband’s business and her family will be able to enjoy better living standards 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