Rasheeda Begum's Group
Rasheeda makes embroidered dresses to order and earns a good profit on the completion of each dress. The profit gives her courage to move her business forward towards success. Earlier, she received orders from her relatives but now her work is acknowledged by her neighbors as well. She earns 500 PKR profit on each dress, which helps her to pay for the utilities.
Rasheeda has applied for a loan from Asasah to buy embroidery material such as clothes, beads and thread in bulk. The material in bulk will help her to make more embroidered dresses and improve her chances of making more sales and income.
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