Anwar Sultana's Group
50-year-old mother of three daughters and a son. Her husband is a tailor, by profession. He occupies a room of his house and uses it as a tailoring shop. She helps her husband by sewing clothes at home, but she also prepares the embroidered dresses by receiving the orders from her neighbors. They both earn a good income from their businesses and manage the financial expenses of their home.
Their son drives an auto-rickshaw (local three-wheeled motor vehicle). Their eldest daughter completed her education up to 10th standard and now works in a local school as a teacher, on a monthly wage. The others are enrolled in school and are getting an education.
Anwar has successfully repaid her two loans to Asasah (micro-finance institute of Pakistan and a partner of Kiva). With the loan profits, she purchased a color television and an air cooler. Now she is applying for a loan, for the third time, to repair her sons’ rickshaw so he can better continue his work. She hopes to get a good profit from this loan too and has a plan to marry off her eldest daughter.
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