She has four kids: two sons and two daughters. She wants to raise her children with a good education and she utilizes her income to pay for their education expenses and to fulfill their needs. Her husband runs a grocery shop in the community to earn income. They both earn well to improve their living standards.
Nasreen is a regular client of Asasah (a microfinance institute in Pakistan). She has successfully repaid three loans to Asasah and now she is applying for a loan to purchase groceries to diversify her husband’s grocery shop into a store.
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