Shamim Akhter's Group
Shamim fulfills her responsibilities as a housewife and a mother very efficiently as well. Her family respects her a lot for her courageous nature and dedication towards both her responsibilities.
Her husband runs a grocery shop in the market. Every day he faces new challenges with other grocery shops. To conquer those challenges he has to perform extraordinarily. This can only happen when he fulfills the demand of his customers.
Therefore, Shamim has applied for a loan from Asasah for her husband. He will be using the loan amount by adding grocery inventory to his grocery shop. She is hopeful that this loan amount will have a positive impact on her husband’s business.
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