Shamim Begum's Group
He started this business a few years ago from savings and started earning well. Basically, his boutique is placed in a market that is always filled with heavy crowds and being a part of that place, he has to keep his boutique up-to-date with the latest fashions in clothes.
Therefore, Shamim has applied for a loan from Asasah for her husband’s boutique. With the loan amount, he will buy items such as cloth, beads, laces and tassels in bulk, which will enable him to make more dresses to display in his boutique.
She is very much hopeful that this investment will prove best for her husband’s business. He will be able to generate good profit on it and improve the living standard of the family.
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