Adeela supports her family financially by selling clothing. She purchases it from Multan and sells it to her local market for a profit. She has been in this business for the last two years and is getting good earnings from it.
She has applied for a loan from Asasah for her clothing sales business. With the loan, she will buy clothing in bulk. The bulk purchasing will minimize the cost of her traveling and increases her profits.
She is in her second loan cycle and has been found to be a responsible loan user of Asasah. In her first year of loaning experience, she has maintained good credit behavior and never missed any meetings.
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