Shamim Akhtar's Group
Shamim is a housewife. She takes care of her house and her three daughters who are in their twenties. They help their mother with the work which gives Shamim a proud feeling.
She has taken three loans from ASASAH and successfully repaid them and maintained a good credit performance continuously for three years. Now she has applied for a fourth loan from Asasah for her husband and sons. With the loan they will buy crockery in bulk and their own shop in themarket to earn a better profit.
From the profit earned from the last three loans, Shamim and her family bought a color television and renovated their house.
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