She started this business last year by taking a loan from Asasah. Her business is doing well because of her hard work and dedication. She has been able to practice her art among her customers.
Now she has applied for a loan for the second time from Asasah to invest the loan amount in her beauty salon. She will buy beauty items such as creams, cosmetics and a hair dryer machine to better assist her customers.
Note: Yameena group member Samina is showing decoration pieces from her business and Munawar is showing items from her embroidery business in this photo.
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