Both of them are very hard-working. Asma prepares the embroider dresses and sells in the market of Lahore. She does this work to improve the standard of living. She is applying for a loan to buy an auto-rickshaw (a local three-wheeled motor vehicle) for her husband because currently he drives a rented rickshaw and receives the half of his struggle.
She is the group leader of four other ladies from her locality. Mumtaz wants a loan to buy a welding machine. Nasreen akhtar wants a loan to buy goats for her meat selling business. Bushra wants a loan to repair her auto-rickshaw (a local three-wheeled motor vehicle). Ruqaiya wants a loan to buy scrap for her scrap 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