Sheeman Bibi's Group
Sheeman bibi has applied for a loan from Asasah for her husband who has been involved in the business of scrap for the last six years. With the loan he will buy more scrap material that will enhance his income due to the availability of more stock.
Sheeman bibi has been married for the last fifteen years but she does not have any children. That’s why she operates her sewing business to spend her time.
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