Shama Parvez Akhtar's Group

Shama Parvez Akhtar is the wife of Parvez Akhtar and lives in the Walton area of Lahore City, Pakistan. She has been living in this city for the last ten years. She is the mother of three children: two sons and one daughter. Her eldest son is in 5th standard, while her youngest son is in 2nd standard. Her daughter is in kindergarten. Shama baji's husband works as a school teacher. Shama baji completed her education until 12th standard, and for the past fifteen years she has been running her own beauty parlor. She is applying for a loan to buy materials (cosmetics and a hair drying machine) for her parlor.

She is joined in her loan group by a few more members. Razia Allah Rakha Masih wants a loan to buy cigarettes to resell. Razia Waris Masih wants a loan to buy plants to resell. Cheema Gulzar Masih wants a loan to buy bicycle-repairing tools. Riaz Barkat Masih wants a loan to buy groceries 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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