She is a mother of five children: two sons and three daughters. Her elder son goes to school for education. She wishes to send all of her children to school but unfortunately due to little resources she couldn’t complete her wish.
Her husband is A. R. and he runs his grocery shop. His shop is located in the busiest market and due to this he faced competition with other grocery shops.
Nargis is applying for a loan from Asasah to invest capital in her husband’s grocery shop so he can maintain his customers and complete their needs on time.
She hopes to get good profit from this loan and then she will be able to enroll her other kids into school too.
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