Mukhtayaran is an uneducated lady, but she wants to give her children a good education. To achieve this goal she operates a business selling quilts. Her business grows in the winter season, but in the summer season she sells pillowcases and bed sheets. Her business gives her an income of PKR 8,000 every month. Her income makes her family more confident.
She has seven children: four sons and three daughters. Her first two sons help her in her quilt-selling business. The others are enrolled in a school and are getting an education. Her husband, L. A., is also very supportive of her business. He sometimes takes time out from his work and helps her sell quilts. He is a mason by profession. Their combined earnings allow their family finances to run smoothly.
Mukhtayaran has successfully repaid her two loans to Asasah (a microfinance institution in Pakistan). Now she is applying for a loan to purchase pillowcases and bed sheets in bulk to expand her sales and to earn a good profit.
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