Naseem Akhtar's Group
Naseem Akhtar has three daughters, all of whom are free and do household chores. Naseem wishes to send her daughters to school so that they get a good education and have a bright future. She operates a business sewing clothes. She does this work to save money so she might be able to enrol her daughters in school.
Naseem's husband is a tailor and runs a tailoring center in the community where he specifically sews gentlemen's clothes. He has been in this profession for ten years. Naseem has successfully repaid two loans to Kiva partner, Asasah. With the profits from her loans, she bought a color television and a fridge. Now she is applying for a new loan to purchase an electric sewing machine for her husband’s tailoring center so that he can sew more clothes and increase his profit.
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