Sajida Parveen's Group
For over 15 years, Sajida Parveen has run a business selling embroidered cloth. Her customers are from different cities such as Lahore, Islamabad and Faisalabad. She receives good orders from her customers and earns a good profit from them.
Her husband, H. N., is a motor mechanic. Together, their earnings help them to manage their family's financial expenses. Sajida Parveen is applying for a loan for the first time from Kiva partner, Asasah (a microfinance institution in Pakistan), to purchase more embroidered cloth to complete her customer orders.
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