She is an active lady. Despite her old age she involves herself in a shoe making and selling business. This has become her family business. They all make the shoes and then sell them to the shoe shops. Her two daughters stay at home and manage the household chores and cook the food for the family.
They don't make just simple shoes – they also make embroidered shoes. Their earning range up to 10-15000 PKR every month.
Latifan is applying for a loan from Asasah to purchase material (glue, nails, leather and thread) so she can take orders from more shoe shops and increase her profits.
She hopes to marry her elder son and daughter with the profitable amount.
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