A very caring lady, Bushra stays at home, manages the household chores and takes care of her family. She is fond of cooking. She cooks healthy food for her family so they can remain healthy and do their work efficiently.
Her husband is involved in selling clothes. He sells the clothing in different areas on his bicycle by announcing in a loud voice about his clothes variety. He starts his work at 9am and goes back home at 7pm. In this way he generates income for the family.
Now he wants to enhance his business by improving his selling. This can only happen when he buys good quality and well designed clothes to introduce into the clothing market. Therefore, Bushra has applied for a loan from Asasah for her husband. With the loan amount he will achieve his wish by buying good clothes in bulk.
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