Her husband's name is M. M.. He operates a sanitary business. He has a sanitary shop in the market and he sells taps, water pipes etc. He has 20 years of experience in this business. His earning helps him to meet the financial expenses of the family.
Irshad has successfully completed two loans from Asasah. With the loan profit, she bought a color television and a fridge. Now she is applying for the third time for a loan from Asasah to invest in her husband’s sanitary business so he can purchase sanitary supplies (taps and water pipes) in bulk and increase the profit from 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