Parveen Akhtar's Group
A very talented and caring lady, Parveen owns and operates a boutique business on a small scale. She is also a very good mother and carries out her responsibilities as a housewife well. Her elder daughter is fourteen years old and the second one is just one year younger. Both stay at home and help their mother in taking care of domestic chores. Her husband, M. A., works in a factory on a monthly wage.
Parveen displays her hand-made embroidered clothes in her boutique. She uses a room of her house for her boutique business. She has been doing this work for over fifteen years. She has a good clientele. She imports clothes from different cities such as Faisalabad and Lahore, famous for their textiles and new designs, and then makes them more beautiful by crafting new embroidered designs on them. She earns approximately 5,000 PKRs every month but it is double that amount on occasion.
Parveen has applied for a loan from Asasah for her boutique business. With the loan amount she will buy clothes, beads, tassels and sketches in large quantity and make more dresses to display in her boutique. She is hopeful that this investment will help her to make more dresses because the Eid (Muslim festival which comes after Ramadan) is near and people will come to her to buy beautiful clothes.
Parveen is in her 4th loan and has shown herself to be a responsible loan user in Asasah. In the previous years of loan experience she has maintained a good credit record and never missed any 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