Both works very hard to meet the basic needs of the family. Robina’s son is just one year of age. She wants to give him quality education; that’s why she wants to save some money for his bright future. She wants to improve her embroidery business and for this purpose she has applied for a loan from Asasah. With the help of a loan, she will buy embroidery materials such as cloth, beads and colored thread in bulk which will help her to make a larger quantity of embroidered dresses of good quality.
She has been doing this business for the past five years and she knows very well about different fashion trends. She is very sure that she can succeed in her business by making an investment into it.
This is the first time she has applied for a loan from any MFI and she is very much hopeful that this will prove successful for her business and will continue to a long-term relationship with Asasah.
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