Khursheed Zulfiqar Masih Group
Khursheed baji is the leader for this group loan which includes three other women from her locality. The loan will be distributed among the group members, each of whom will invest in her own business. Shamshad baji will use the loan to buy religious books for her book shop, Razia baji needs a loan to repair the engine of her vehicle (named “Shahzore”), and Irshad begum baji plans to buy a welding machine. The members of a group loan 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