Naseem Akhtar's Group
Naseem akhtar operates a business selling spools of thread. She gets the thread from used warm-weather clothes. Her two daughters also help her in this work. She has six years of experience in this business. Her income helps her to share the financial responsibilities of her family.
They belong to a mid-sized city called Vehari in Pakistan. They own a small two-room house in the area named "People's Colony." She thinks that an investment in her husband’s business will enable him to weld more equipment for his customers and generate more profit. She also has a desire to marry her oldest daughter in the coming year with the help of profits generated by the loan.
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