Nazia is a caring lady who carries out her responsibilities as a housewife and mother very well. She is raising her children with great care. Her husband is employed in a government job, which does not provide enough for the financial expenses of the family. So, in order to fulfill the basic needs of the family, he does a business of selling embroidery material by operating a shop in the market where he sells tassels, beads, beaded laces, etc. Nazia has applied for a loan from Asasah for her husband’s embroidery shop. With the loan amount, he will buy the above-mentioned embroidery items in large quantities to sell in his shop. Nazia hopes that this investment will put a positive impact on her husband’s business and he will be able to get good income from it. She is in her 3rd loan cycle and is a responsible loan user of 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