After her husband's death she took over his responsibilities and started selling women's clothes. She purchased the clothes from cities (Faisalabad and Lahore) because of their cheap prices and good quality and sells in her community. Now her business is very famous in her neighborhood and she receives a lot of orders.
She is applying for a loan from Asasah (a microfinance institute in Pakistan) to purchase clothes in bulk to complete an order on time and earn 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