Parveen Muhammad Arif Group
Parveen baji operates an embroidered-clothes business to share the financial burden of her family. She is applying for a loan to buy an auto-rickshaw (a local three-wheeled motor-vehicle) for her husband so he earns a good income as driver of his own vehicle.
In the photo, Parveen baji is showing her embroidered dress.
This group loan consists of four additional people:
Razia baji and Parveen baji each want a loan to repair their auto-rickshaws.
Kalsoom baji wants a loan to buy vehicle wheels to sell.
Suraiya baji wants a loan to buy materials (lentils, cooking oil and spices) for her food-selling business.
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