Rasoolan gave birth to four children: two sons and two daughters. Her elder son reads in 2nd standard and the others have no occupation. Rasoolan is a very talented lady; she manages her clothes-selling business. She receives order from her neighbors and relatives. She purchases clothing from different cities (especially Multan & Lahore) because of their cheap rates and good designs. She has been operating this business for the last 3 years. Her income helps her to share the financial burden with her husband.
Her husband sells vehicle tyres (rubber edging for wheels) in the market. He has been in this business for over 25 years. He has obtained a good reputation among his customers. He sells quality materials in his shop which attracts more customers.
Rasoolan has been a client of Asasah (a micro-finance institute in Pakistan) for the last three years. She is applying for a loan for the fourth time to purchase tyres in bulk to expand her husband’s 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.
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Success!! The loan was 100% repaid