Nazia is very supportive by nature. She owns and operates a clothes-selling business to share the financial burden with her husband. She buys clothes from the famous markets of Lahore called “Ichra & Anarkali” and sells the goods to different shops at her nearby market and to her community as well. She earns approximately 8-10 thousand PKRs every month.
She has applied for a loan from Asasah for her clothes business. With the loan amount she will buy clothes of different varieties and designed in large quantity and give expansion to her business. She is a new loan user of Asasah. She is hopeful that it will be a profitable experience for her.
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