She is the mother of five children, two sons and three daughters. None of them could get an education due to financial constraints. Both of her sons work. The older one sells shawls and the younger one sells clothes by going door to door in communities.
Her husband runs a clothiing shop in the market. He buys the clothes from cities Multan and Lahore. These days her husband is facing the problem of low inventory and is unable to fulfill the requirements of the customers. Therefore, she has applied for a loan for the 3rd time from Asasah to financially help her husband.
With the loan he will buy clothes in bulk for selling. This will not only cut the cost of traveling but also he will be able to buy the clothes on discount as a result of bulk purchasing. Shamim is hopeful that this investment will bring happiness to her family and that her family’s standard of living will improve.
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