Her husband is a rickshaw driver. He has been driving for the last 15 years. He used to drive a local bus but three years ago he started driving a rented rickshaw because of the difficult timings of bus driving. Now he has decided to start his own rickshaw business. In this way, he will make more income for his family because he won't have to pay the rental cost to the owner. Therefore, Samina has applied for a loan from Asasah to help her husband buy his own rickshaw.
She has a son who works in a motor-workshop. Samina wants her son to marry, and she is hopeful that she will be able to save money from the increased profits so she will be able to marry him off.
She is a regular loan user of Asasah and has good track record. She never missed a single meeting. She is in her third loan cycle.
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