Zahida Parveen's Group
She is a mother of five children: one son and four daughters. All of her children are enrolled in school and are getting an education. Her husband's name is S. A., and he has a ready made garment sales business. He purchases the garments from different cities (Multan and Faisalabad) because of cheap prices and good quality. He has been in this business for over 12 years.
Zahida has successfully repaid her first loan to Asasah (a microfinance institute in Pakistan). Now she is applying again for a loan to purchase more ready made garments to expand her husband’s business. She belongs to a group of four members.
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