Nusrat Almas M. Irshad Group
Nusrat baji helps her husband prepare Punjabi food for sale. She is a very responsible lady. She provides Punjabi food on time to his hotel. Now Mr. I. has decided to start driving an auto-rickshaw (a local three-wheeled motor vehicle) since Nusrat baji is able to handle his food business very well. She is applying for a loan to buy an auto-rickshaw (a local three-wheeled motor vehicle) for her husband to use.
Nusrat baji is the group leader for some more women from her locality. Zahida Parveen baji wants a loan to buy bicycles to re-sell. Salma baji wants a loan to buy clothes to re-sell. Manzooran baji wants a loan to buy utensils to re-sell. Khursheed begum baji wants a loan to buy beams for her shuttering business.
This is a group loan. The loan funds will be distributed among the group members, each of whom will invest in her own business. The members mutually guarantee one another's loans. If one member does not repay, the other members are responsible.
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