Nasreen’s customer base is 80% from the community and 20% outside of the community. Her business is characterized by stability and consistent growth. Once a month she travels to the neighboring city to purchase new clothes to sell. Her business helps to meet the financial expenses. She also has a sewing machine which she uses to earn additional profit.
Today Nasreen has requsted a loan of Pak Rs. 15000 to purchase new clothing.
Nasreen is also the group leader for four other women from her locality. Shamim baji and Sakina baji each want a loan to buy groceries for their grocery shops. Parveen baji wants a loan to buy seasonal fruits for her fruit-selling business. Another lady named Shamim baji wants a loan to buy a sewing machine for her clothes-sewing 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