Meena M.akbar's Group

Meena baji is a wife of M.Akbar and lives in the city of Arifwala, Pakistan. She owes a two-room brick house and has been living in it for the last 20 years. She is the mother of seven children: six sons and one daughter. Her husband is a wholesaler; he buys fertilizer and corn from the wholesale market and sells them in different cities. Meena baji is a housewife and prefers to do household work. She successfully repaid two loans from Asasah (a microfinance institute of Pakistan). Now she is applying for another loan to buy fertilizer and corn to expand her husband's business on a larger scale.

She is joined in her loan group by four other members. Rashidan baji wants a loan to buy raw sugar to re-sell. Hanifan baji wants a loan to buy fruit to re-sell. Sakina baji wants a loan to buy paint for her paint shop. Naziran baji wants a loan to buy inventory for her grocery shop.

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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