Saida has been selling charcoal in the Jang'ombe neighborhood of Zanzibar for one year. She works from 8:00am to 6:00pm every day and earns a profit of approximately $80 each month. She has taken out one previous loan from BRAC Tanzania which she repaid successfully and on time. She is requesting a second loan so that she can further increase her inventory of charcoal.
Saida is 39 years old, married, and has two children, aged 9 and 14. She also cares for two additional dependants. Saida will be sharing this loan with her fellow group member, Shemsa, who also owns a small business in Zanzibar.
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.