Bashiran's husband has a business of scrap which he started after shifting to Lahore city. He buys rough and rotted items, such as wasted papers, wooden cupboards and book racks, etc., and re-sells them to factories at a good profit.
Bashiran has applied for a loan from Asasah to upgrade her husband’s business. With the loan amount he will buy scrap in bulk and increase his profit.
Bashiran is hopeful that this investment will bring positive changes to her family’s financial conditions and improve the family's standard of living. She is in her 3rd loan cycle. She is a regular loan user of Asasah and has built a good credit standing. She has never missed a meeting.
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