Khalida operates a decorative embroidery business. She receives orders from her neighbors and relatives. She beautifully set beads on clothes that no one can judge if it is made by machine or by hand. She earns approximately 10,000 Pakistan rupees in every month, which is a big source of support for her family.
Her husband is involved in the wood-selling business. He has been in this profession for over 20 years. Now he has obtained a good reputation and a good customer list.
She is a regular client of Asasah (a microfinance institute in Pakistan and a Kiva partner). She has successfully repaid her four loans to Asasah and is applying for the fifth time to purchase wood in bulk to expand her husband’s wood-selling business.
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