Rukhsana is a very talented lady. She can sew and prepare embroidered dresses. Her talent gives her reward in the form of money. She prepares embroidered clothes on order and generates income. Her income allows her to fulfill the needs of her sons. Her husband is a vegetable seller and he sells his products in different areas of the community on his four-wheeled cart. He has sixteen-years of experience in this business. They both work hard to manage the financial expenses.
Rukhsana has successfully repaid her first loan to Asasah (microfinance institute in Pakistan and a partner of Kiva) and is applying for the second time. The funds will be used to purchase seasonal vegetables in bulk so they may earn a good profit and provide their kids with a better education.
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