Her husband is involved in a timber-selling business. He sells timber at his shop. He has six years of experience in this business. His shop is located in the main market of Borewala. This place is always busy with people. All the necessary things can be found easily there.
Parveen has applied for a loan from Asasah for her husband. With the loan amount, he will buy timber in bulk and expand his business.
Parveen is hopeful that this investment will be helpful for her husband’s business, and he will increase his profits and his family will be able to have a better standard of living.
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