Farzana Asif Iqbal's Group

Farzana baji is married to Asif Iqbal and lives in the city of Arifwala, Pakistan. She owns a two-room brick house and has been living in it for the last three years. She has no children. Her husband sells plastic bottles and earns profit. Farzana baji's father lives with her and has a milk business. He has been in this profession for the last 10 years. Farzana baji is a housewife and prefers to do household work. She is applying for a loan to buy a buffalo for her father's milk business.

She is joined in her loan group by four other members. Shaheen baji wants a loan to buy material (thread, beads) for her embroidery business. Kosar baji wants a loan to buy a sewing machine. Zaitoon baji wants a loan to buy wooden beams which are required for construction. Saima baji wants a loan to buy a machine for grind wheat.

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.



About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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