Hanifan Maqbool Ahmad Group
Hanifan baji is the mother of four kids: two sons and two daughters. None of her children goes to school. Hanifan baji has been a midwife for the past 15 years. She invests the profits from her work in a committee and plans to renovate the house when it is her turn to receive the amount. She is applying for a loan to buy furniture and table covers and chair covers for her husband’s catering business.
Hanifan baji is the group leader for some more women from her locality. Parveen baji and Kosar baji and Sobia baji each want a loan to buy seasonal fruit for their fruit-selling businesses. Razia baji wants a loan to buy raw materials (leather and nails) for her shoemaking 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