Kaniz Fatima's Group
Kaniz’s elder son is a welder, welding items on order. He has received an education up to 8th standard but couldn’t study further and had to start doing work because his family needs his financial support. Now he is working hard to provide the best education facilities for his younger brother. His parents feel good to see him having such care for his family and especially for his brother.
Kaniz herself is also a very hardworking lady. She owns and operates a business selling clothes that she imports from Faisalabad (famous for its textile industry) and sells in her nearby market and in the community as well. She earns approximately 4,000 PKR from her business every month. She does this work to share the financial burden with her son.
Kaniz is hopeful that this loan will bring positive change in her business and that she can earn a good profit from it. This is the first time that she has applied for a loan from any microfinance institution and she wants to build a longterm relationship with 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