Allah Rakhi's Group
A very talented lady, Allah rakhi operates a business selling thread rolls. She gets the thread from used sweaters, which she purchases in the city of Lahore. She has been doing this work for over six years. She earns approximately 5,000 Pak Rupees every month, which she saves for the marriage of her son.
Her husband's name is M. S.. He is a loader by profession and loads different items such as cement, fruits and vegetables on his donkey cart. He delivers the items from one place to another and generates a good income. He has been doing this work for over 10 years.
Allah rakhi’s brother who lives with her is 24 years old and operates a vegetable-selling business. He purchases the vegetables from the vegetable markets and sells them on his four-wheeled cart by going to different areas of the community. He has five years of experience in this business.
Allah rakhi is applying for a loan from Asasah to invest the capital in her brother’s business so he can purchase vegetables in bulk and expand his business.
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