Her husband operates a business selling medicines. He supplies medicines to different medical stores and to clinics as well. He has seven years of experience in this business.
Ramzana also helps him financially by operating a domestic-sewing business. She does this work to share the financial burden with her husband.
She is applying for a loan from Asasah to invest the loan amount in her husband’s business. With the loan amount her husband will be able to buy medicines in bulk and earn a good profit on them.
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