Ruqaiya Parveen's Group
Her husband's name is M. I. and he is a trained cook. He sells Punjabi foods such as (Dahi Bhalay and Daal Chawal) in the main market. He began selling these products in 2005.
Ruqaiya is asking for a loan from Asasah (a microfinance institute in Pakistan) to purchase cooking oil, spices, lentils and rice. This loan will help grow her husband’s food business and keep his customers satisfied.
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